Okla. Firefighters Cut Alts. Targets

Jun 11 2014 | 8:46am ET

A $2.1 billion Oklahoma pension fund is cutting back on alternative investments.

The Oklahoma Firefighters Pension & Retirement System has slashed its target allocation to “other assets,” which includes hedge and private equity funds, from 11% to 8%, Pensions & Investments reports. The public pension fund also cut its allocation to real estate from 14% to 10%.

The freed-up money from both asset classes will go to an increased allocation to domestic equities, whose target is now 42%.

OFPRS’ other allocations, including to fixed-income hedge funds, were unchanged.

Troy Brown, a consultant to the pension, said that he did not expect the changes to result in any terminations.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...