The Oklahoma Police Pension and Retirement System, Oklahoma City, is searching for a liquid absolute-return manager, according to an RFP posted on the fund's website.
The assignment is expected to be initially in the range of $75 million to $100 million, the RFP said.
"We are looking to reduce fees and better returns," Ginger Sigler, executive director of the $2.7 billion pension fund, said in an email.
The fund’s current absolute-return manager, Pacific Alternative Asset Management Co., was not invited to rebid. The pension fund is looking for “a different type of AR than what PAAMCO offers,” Ms. Sigler said. “We have had them as managers a very long time and have a great relationship with them,” she said. “We are just going in a slightly different direction.”
Bidders ideally should have $1.5 billion in assets under management in a liquid absolute return fixed income strategy and a five-year GIPS-compliant track record through Dec. 31, according to the RFP.
The RFP can be found on the fund's website. Proposals are due by 4 p.m. CST on Feb. 28, 2020.