Oklahoma Teachers' Retirement System, Oklahoma City, put opportunistic real estate manager Landmark Partners and domestic all-cap equity manager Epoch Investment Partners “on alert,” said Tom Spencer, executive director, in an e-mail.
Landmark was put on alert because of an ownership change and Epoch, because of performance issues, Mr. Spencer wrote. OM Asset Management announced earlier this month that it will be acquiring a majority interest in Landmark. Mr. Spencer wrote that “any significant ownership change just needs additional scrutiny.”
An Epoch spokesman declined to comment on the firm's status.
Being put on alert is a step below being placed “on notice,” which is the last step before termination.
The $13.8 billion retirement system committed $35 million (about $12 million of which has been called) to Landmark and has $500 million invested with Epoch.
OTRS has a 7% real estate target and 17% domestic all-cap/large-cap equity target.
