Oklahoma Firefighters Pension & Retirement System, Oklahoma City, has issued an open-end private infrastructure equity strategy RFP, the pension fund said in a news release.
The mandate size is $90 million to $120 million. The funding will come from the terminations of a global tactical asset allocation, managed by Allianz Global Investors, and hedge fund strategies, managed by EnTrust Global. Both managers were terminated for failure to meet their mandates' return objectives, according to Troy Brown, executive director of consulting at AndCo Consulting, investment consultant to the $2.8 billion pension fund.
Neither manager immediately returned a phone call seeking comment about its termination.
The pension fund is looking for a open-end private infrastructure equity manager to achieve "diversification, income and liquidity to manage allocations within the portfolio's 'other asset' bucket," Mr. Brown said.
The RFP will be available Aug. 19 on the pension fund's website. Proposals are due Sept. 30. A selection date has not yet been established, Mr. Brown said.