Oklahoma Firefighters Pension & Retirement System, Oklahoma City, hired Aristotle Capital Management to run about $80 million in active domestic large-cap value equity, according to Troy Brown, executive director at AndCo Consulting, the pension fund's investment consultant.
The $2.85 billion pension fund's board made the selection at a meeting Friday.
The two other finalists were J.P. Morgan Asset Management and Brandywine Asset Management.
"We had a number of qualified candidates, and there wasn't really a bad choice to make," Mr. Brown said in an email. "Based on the information contained in the RFP submissions and the manager interviews, the system felt Aristotle was the fit for their portfolio."
An RFP was issued in February.
Aristotle replaces AJO, which rebid. "We're obviously disappointed, but knowing the system and AndCo, they chose a fine firm in Aristotle," said Theodore R. Aronson, a principal at AJO, in an email.
As of May 31, the pension fund had a 48% allocation to equities.
The board also committed $75 million to Pomona Capital X, a private equity secondaries fund. The allocation is the pension fund's third investment with Pomona, following investments in Pomona Capital VIII and Pomona Capital IX, Mr. Brown said.
The pension fund has an 8% target allocation to secondaries, which is included in the "other assets" category.
