Oklahoma Police Pension & Retirement System, Oklahoma City, named BlackRock and Wellington Management as finalists in its search for its first liquid absolute-return manager, said Steven Snyder, executive director and chief investment officer.
A hiring decision is expected at the Sept. 21 board meeting.
The targeted allocation size is between $50 million and $75 million.
Funding is expected to come from a reduction to existing illiquid absolute-return manager Pacific Alternative Asset Management Co., which managed $160.5 million as of July 31.
The $2.25 billion pension fund has a 10% absolute-return target.