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Oklahoma Police Pension and Retirement System
| Oklahoma Police Pension and Retirement System | |
 | |
| Basic facts | |
| Location: | Oklahoma City, Oklahoma |
| Top official: | Chris Cook, chairman |
| Year founded: | 1981 |
| Active members: | 4,868 |
| Website: | Official website |
| Total assets under management | |
| 2022: | $3,087,329,000 |
- See also: Public pensions in Oklahoma
The Oklahoma Police Pension and Retirement Fund is an Oklahoma state pension fund that provides retirement, disability, and survivor benefits to the state's police officers. The Oklahoma Police Pension and Retirement Fund had $3,087,329,000 ($3.08 billion) in total assets under management as of July 1, 2022.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of the Oklahoma Police Pension and Retirement Fund.
- Pension performance overview: Overview of the funding level and assets managed by the Oklahoma Police Pension and Retirement Fund.
- Assets and asset management: Information about the asset management companies (AMCs) that contract with Oklahoma Police Pension and Retirement Fund, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about the Oklahoma Police Pension and Retirement Fund's oversight board, including members and selection.
Background
- See also: Public pensions
The Oklahoma Police Pension and Retirement Fund, founded in 1981, invests the assets of and provides funding for the state’s police officers based on a formula established by state law. These plans—based on the employee's length of service and salary—provide retirement, disability, and survivor benefits to the state's police officers and their families.[2][2]
The Oklahoma Police Pension and Retirement Fund served over 4,868 active members and approximately 3,294 retirees and 958 beneficiaries as of April 2024.[2]
Pension performance overview
The following table features information about the funding level and assets managed by the Oklahoma Police Pension and Retirement Fund as of July 1, 2022:[1]
| Oklahoma Police Pension and Retirement Fund pension performance (July 1, 2022) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total assets[3] |
| 2022 | 102.7% | (-$158,554,000) | $3,087,329,000 |
Assets and asset management
| Environmental, social, and corporate governance |
|---|
|
| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) are hired to manage asset investment for state pension funds across all 50 states.
As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[4][5]
NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[6]
List of AMCs contracting with the Oklahoma Police Pension and Retirement Fund
The Oklahoma Police Pension and Retirement Fund contracted with 104 asset management companies (AMCs) or specific funds as of April 30, 2024. Of those companies, three were investor participants in Climate Action 100+, and four were members of NZAM, as of October 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with the Oklahoma Police Pension and Retirement Fund:[7]
| Oklahoma Police Pension and Retirement Fund asset management companies Click on a column header below to sort the list of asset managers. | |||||
|---|---|---|---|---|---|
| AMC name | Investment type | Assets under management | Percentage of total fund assets | NZAM Initiative signatory as of October 2024[8] | Climate Action 100+ signatory as of October 2024 |
| Northern Trust Russell | Equity; | $557,485,000.00 | 18.02% | Yes | Yes |
| Boston Partners (01/98) | Equity; | $164,312,000.00 | 5.31% | No | No |
| Silvercrest (02/14) | Equity; | $120,601,000.00 | 3.90% | No | No |
| Grosvenor (12/10)* | Equity; | $384,000.00 | 0.01% | No | No |
| K2 Ascent LLC (04/20) * | Equity; | $127,099,000.00 | 4.11% | No | No |
| Borings Focused EAFE Plus Equity (03/12) | Equity; | $183,084,000.00 | 5.92% | No | No |
| Mondrian Inn Value (05/04) | Equity; | $183,654,000.00 | 5.94% | No | No |
| Axiom Emerging Markets (08/22) | Equity; | $90,080,000.00 | 2.91% | No | Yes |
| Wasatch EM Small Cap (09/12) | Equity; | $54,853,000.00 | 1.77% | No | No |
| Agincourt (10/99) | Fixed Income; | $223,255,000.00 | 7.22% | No | No |
| Oaktree Global Credit Fund (02/98)1 | Fixed Income; | $145,656,000.00 | 4.71% | No | No |
| Loomis Sayles (06/08) | Fixed Income; | $63,164,000.00 | 2.04% | No | No |
| PAAMCO (10/02) | Fixed Income; | $5,063,000.00 | 0.16% | No | No |
| Wellington Global Total Return (12/16) | Fixed Income; | $76,854,000.00 | 2.48% | Yes | Yes |
| TCW MetWest Unconstrained Bond Fund (01/21) | Fixed Income; | $64,770,000.00 | 2.09% | No | No |
| JP Morgan (12/07) | Real Assets; | $139,031,000.00 | 4.49% | Yes | No |
| Blackstone Property Partners (01/15) | Real Assets; | $171,323,000.00 | 5.54% | No | No |
| Levine Leichtman III | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Thompson Street Capitol II | Private equity - active funds; | $271,121.00 | 0.01% | No | No |
| Sun Capitol Partners V | Private equity - active funds; | $676,016.00 | 0.02% | No | No |
| Levine Leichtman IV | Private equity - active funds; | $952,651.00 | 0.03% | No | No |
| Thompson Street Capital III | Private equity - active funds; | $412,147.00 | 0.01% | No | No |
| Arsenal Capital Partners III | Private equity - active funds; | $793,788.00 | 0.03% | No | No |
| Apollo Investment Fund VIII | Private equity - active funds; | $2,227,148.00 | 0.07% | No | No |
| Francisco Partners IV | Private equity - active funds; | $8,162,279.00 | 0.26% | No | No |
| CenterOak Equity Fund I | Private equity - active funds; | $1,790,711.00 | 0.06% | No | No |
| Thompson Street Capital IV | Private equity - active funds; | $7,817,576.00 | 0.25% | No | No |
| Green Equity Investors VII | Private equity - active funds; | $8,718,786.00 | 0.28% | No | No |
| Francisco Partners V | Private equity - active funds; | $15,234,391.00 | 0.49% | No | No |
| Thompson Street Capital V | Private equity - active funds; | $10,829,088.00 | 0.35% | No | No |
| Apollo Investment Fund IX | Private equity - active funds; | $12,226,283.00 | 0.40% | No | No |
| Jade Equity Investors I | Private equity - active funds; | $10,878,229.00 | 0.35% | No | No |
| Francisco Partners Agility II | Private equity - active funds; | $5,395,972.00 | 0.17% | No | No |
| Green Equity Investors VIII | Private equity - active funds; | $17,887,899.00 | 0.58% | No | No |
| Francisco Partners VI | Private equity - active funds; | $21,497,155.00 | 0.69% | No | No |
| Thompson Street Capitol VI | Private equity - active funds; | $14,325,221.00 | 0.46% | No | No |
| Green Equity Investors IX | Private equity - active funds; | $3,500,565.00 | 0.11% | No | No |
| Sow Mill Capital Partners III | Private equity - active funds; | $3,798,179.00 | 0.12% | No | No |
| Francisco Partners VII | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Clayton, Dubilier, & Rice Fund XII | Private equity - active funds; | $1,702,933.00 | 0.06% | No | No |
| Francisco Partners Agility III | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Jade Equity Investors II | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Oaktree Opportunities VII A | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Oaktree Opportunities VII I3 | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Oaktree Opportunities VIII | Private equity - active funds; | $18,101.00 | 0.00% | No | No |
| Oaktree Opportunities IX | Private equity - active funds; | $5,092,766.00 | 0.16% | No | No |
| Oaktree European Dislocation Fund | Private equity - active funds; | $11,877.00 | 0.00% | No | No |
| Oaktree Opportunities Fund X | Private equity - active funds; | $3,742,729.00 | 0.12% | No | No |
| Apollo EPF III | Private equity - active funds; | $5,526,506.00 | 0.18% | No | No |
| Oaktree Opportunities Fund Xb | Private equity - active funds; | $8,298,462.00 | 0.27% | No | No |
| CarVal Credit Value Fund V | Private equity - active funds; | $24,231,729.00 | 0.78% | No | No |
| Oaktree Opportunities XI | Private equity - active funds; | $30,946,613.00 | 1.00% | No | No |
| Actis EM IV | Private equity - active funds; | $4,171,466.00 | 0.13% | Yes | No |
| TCW Mezzanine Fund V | Private equity - active funds; | $0.00 | 0.00% | No | No |
| Newstone Capital Partners II | Private equity - active funds; | $370,625.00 | 0.01% | No | No |
| EnCap Energy Fund IX | Private equity - active funds; | $1,557,796.00 | 0.05% | No | No |
| EnCap Energy Fund X | Private equity - active funds; | $4,235,431.00 | 0.14% | No | No |
| ArcLight Energy Partners VI. L.P. | Private equity - active funds; | $2,345,863.00 | 0.08% | No | No |
| EnCap Energy Fund XI | Private equity - active funds; | $10,213,028.00 | 0.33% | No | No |
| North Sky Clean Growth V | Private equity - active funds; | $21,409,059.00 | 0.69% | No | No |
| ArcLight Energy Partners VII, L.P | Private equity - active funds; | $12,799,994.00 | 0.41% | No | No |
| Lexington VI | Private equity - active funds; | $106,395.00 | 0.00% | No | No |
| TrueBridge Secondaries I | Private equity - active funds; | $3,336,985.00 | 0.11% | No | No |
| Accel Europe | Private equity - active funds; | $312,077.00 | 0.01% | No | No |
| Knightsbridge Fund VI | Private equity - active funds; | $3,085,211.00 | 0.10% | No | No |
| Firstmark Capitol Fund I | Private equity - active funds; | $6,958,827.00 | 0.22% | No | No |
| Weathergage Venture Capital I | Private equity - active funds; | $3,709,744.00 | 0.12% | No | No |
| Warburg Pincus X | Private equity - active funds; | $274,979.00 | 0.01% | No | No |
| Weathergage Venture Capital II | Private equity - active funds; | $7,485,288.00 | 0.24% | No | No |
| Firstmark Capitol Fund II | Private equity - active funds; | $6,074,943.00 | 0.20% | No | No |
| Warburg Pincus XI | Private equity - active funds; | $2,337,208.00 | 0.08% | No | No |
| Firstmark Capitol Fund III | Private equity - active funds; | $13,822,143.00 | 0.45% | No | No |
| Firstmark Capitol Opportunity Fund I | Private equity - active funds; | $2,088,877.00 | 0.07% | No | No |
| Warburg Pincus XII | Private equity - active funds; | $7,683,767.00 | 0.25% | No | No |
| Weathergage Venture Capital IV | Private equity - active funds; | $15,940,051.00 | 0.52% | No | No |
| FirstMork Capital Fund IV | Private equity - active funds; | $13,203,611.00 | 0.43% | No | No |
| FirstMork Capital Opportunity Fund II | Private equity - active funds; | $12,307,701.00 | 0.40% | No | No |
| Warburg Pincus Global Growth | Private equity - active funds; | $47,860,691.00 | 1.55% | No | No |
| TA Associates XIII | Private equity - active funds; | $12,627,459.00 | 0.41% | No | No |
| FirstMork Capital Opportunity Fund III | Private equity - active funds; | $10,950,434.00 | 0.35% | No | No |
| FirstMork Capital Fund V | Private equity - active funds; | $13,885,798.00 | 0.45% | No | No |
| Stepstone VC Global Partners X | Private equity - active funds; | $18,156,897.00 | 0.59% | No | No |
| Redmile Biopharma Investments III, L.P. | Private equity - active funds; | $14,751,055.00 | 0.48% | No | No |
| TA Associates XIV | Private equity - active funds; | $11,801,358.00 | 0.38% | No | No |
| Warburg Pincus Global Growth 14 | Private equity - active funds; | $8,940,139.00 | 0.29% | No | No |
| FirstMork Capital Opportunity Fund IV | Private equity - active funds; | $990,119.00 | 0.03% | No | No |
| TrueBridge Capital Partners Fund VIII | Private equity - active funds; | $267,053.00 | 0.01% | No | No |
| FirstMork Capital VI | Private equity - active funds; | $1,330,471.00 | 0.04% | No | No |
| Newstone Capital Partners Ill | Private credit - active funds; | $3,061,186.00 | 0.10% | No | No |
| LBC Credit Partners Fund IV | Private credit - active funds; | $7,405,342.00 | 0.24% | No | No |
| Apollo Accord IV | Private credit - active funds; | $0.00 | 0.00% | No | No |
| Apollo Accord V | Private credit - active funds; | $1,940,608.00 | 0.06% | No | No |
| Siguler Guff Dist. Real Estate Opp. | Real assets; | $1,640,743.00 | 0.05% | No | No |
| TA Associates Realty X | Real assets; | $0.00 | 0.00% | No | No |
| Cerberus Real Estate Fund Ill | Real assets; | $5,729,146.00 | 0.19% | No | No |
| Hall Capital Fund Ill | Real assets; | $776,581.00 | 0.03% | No | No |
| Siguler Guff Dist. Real Estate Opp. II | Real assets; | $3,871,426.00 | 0.13% | No | No |
| Cerberus Institutional Real Estate Partners IV | Real assets; | $10,790,535.00 | 0.35% | No | No |
| Siguler Guff Dist. Real Estate Opp. II B | Real assets; | $8,755,795.00 | 0.28% | No | No |
| Angelo Gordon Realty Value Fund X. L.P. | Real assets; | $13,475,546.00 | 0.44% | No | No |
| Blackstone Real Estate Partners Fund IX, L.P | Real assets; | $20,064,535.00 | 0.65% | No | No |
| Stanwood Distressed Opportunity Fund XII | Real assets; | $21,478,794.00 | 0.69% | No | No |
| Angelo Gordon Realty Value Fund XI, L.P. | Real assets; | $5,524,142.00 | 0.18% | No | No |
| Blackstone Real Estate Partners Fund X. L.P. | Real assets; | $1,290,017.00 | 0.04% | No | No |
Governance and accountability
This section features information about the 13-member board of trustees that oversees the Oklahoma Police Pension and Retirement Fund. The board is specific to oversight of the Oklahoma Police Pension and Retirement Fund and does not exercise oversight duties for other state funds.[9]
Board selection method
The board of trustees that oversees the Oklahoma Police Pension and Retirement System is made up of 13 members. One member is appointed by the governor, one member is appointed by the speaker of the house and one member is appointed by the president of the senate. Ten members are designated to serve on the board.[9]
Board of trustees membership
A 13-member board of trustees oversees the operation and administration of Oklahoma Police Pension and Retirement Fund. The following individuals served on the board as of April 2024:[9]
- Chris Cook, chairman
- Jeff Cealka
- Mike Brown
- Thomas Cooper
- Jerry Morris
- Antuanya ‘Bo’ DeBose
- Timothy Foley
- Mark Nelson
- Mark Mason
- John Laws
- Jeff Russell
- Ryan Woods
- Mike Mazzei
See also
- Public pensions in Oklahoma
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ 1.0 1.1 OPPRS, “Actuarial Valuation Report,” accessed April 15, 2022
- ↑ 2.0 2.1 2.2 OPPRS, "About Us," accessed April 15, 2024 Cite error: Invalid
<ref>tag; name "about" defined multiple times with different content - ↑ Note: By default, this refers to the actuarial valuation of total assets. In some cases, the total market value of assets is shown instead. See the cited source for details.
- ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
- ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ Note: NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website.
- ↑ 9.0 9.1 9.2 OPPRS, "Board," accessed April 15, 2024
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