Oklahoma Police Pension & Retirement System, Oklahoma City, is searching for an emerging markets equity manager and its first liquid absolute-return manager to run up to $140 million total, said Steven Snyder, executive director and chief investment officer.
For emerging markets, the targeted allocation size is between $55 million and $65 million, and for absolute return, between $50 million and $75 million.
Funding for the emerging markets manager would come from Vontobel Assset Management, which was terminated from a similar strategy in March because of the upcoming departure of Rajiv Jain, chief investment officer of Vontobel’s quality growth equities boutique.
The termination decision was not related to performance and the firm has been invited to rebid.
Funding for the liquid absolute-return manager would come from a reduction to existing illiquid absolute-return manager Pacific Alternative Asset Management Co., which managed $178 million as of March 31.
The RFPs are available on the pension fund’s website
Proposals for both searches are due by 4 p.m. CDT on May 12. The anticipated contract start dates are Sept. 1 for emerging markets and Oct. 1 for absolute return.
Separately, the $2.2 billion pension fund committed $7.5 million each to FirstMark Capital Fund IV, a venture capital fund primarily focused on emerging technology companies, and FirstMark Capital Opportunity Fund II, which makes later-state venture capital and growth equity investments.
The pension fund previously committed $36 million total to six other FirstMark Capital Partners funds.
The pension fund has a 10% private equity target, 10% absolute return target and 5% emerging markets equity target.