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Land Office approves FY2027 investment manager renewals and contracts over $50,000
Summary
Commissioners voted unanimously to renew listed investment manager contracts (noting Fidelity's mid-cap addition) and to approve contracts exceeding $50,000 and outside professional service law firm contracts for FY2027, as described in meeting materials.
Procurement Manager Noble recommended renewing the investment manager contracts listed for the fiscal year beginning July 1, 2026. RVK confirmed the only recent change in the investment manager roster was the addition of Fidelity for mid-cap exposure; staff also noted one real estate manager change after OK CRE Partners purchased Price Edwards & Company. Commissioners approved the renewals unanimously.
The board also approved listed contracts above $50,000 for FY2027 and approved proposed professional service contracts (outside law firms) under Title 74 §20i as budgeted. Commissioner Blayne Arthur asked for clarification about internal rent-charging practices; Assistant Secretary John Fischer confirmed those internal charges are intended to preserve the CLO’s ability to distribute rent to beneficiaries.
