Oklahoma Public Employees Retirement System, Oklahoma City, hired Westfield Capital Management to manage about $230 million in domestic large-cap growth equity, pending successful contract negotiations, said Joseph A. Fox, executive director, in an e-mail.
Westfield will replace passive domestic large-cap equity manager BlackRock.
The board initially selected William Blair & Co. for the mandate in August. However, the $8.4 billion pension fund and William Blair “were unable to arrive at mutually agreeable contract terms,” Mr. Fox wrote in his e-mail. The board revisited the other finalists in its active domestic large-cap equity search at its Oct. 20 board meeting, and Westfield was selected.
An RFP for active domestic large-cap equity managers was issued in April. MFS Investment Management was also a finalist.
A William Blair spokesman could not immediately be reached for additional information.