Oklahoma Becomes Latest Ex-Aldus Client

May 14, 2009 (PLANSPONSOR.com) - Beleaguered money manager Aldus Equity Partners LP, continues to lose business relationships.

The latest – a move by the Board of Trustees for the Oklahoma Teachers Retirement System to sever its Aldus ties.

An Associated Press news report said the board voted unanimously Wednesday to stop its dealings with Aldus. Executive secretary James Wilbanks said Aldus has only handled $11 million in investments so far and that the state has lost no money. 

According to the news report, the company was selected last June to handle a $450-million mandate from the teacher retirement fund over a three-year period.

The company has drawn a sharp focus in an ongoing state-federal investigation of possible wrongdoing as part of what has been described as a “pay-to-play scheme” involving the New York state retirement program – scrutiny that has resulted in other relationships being drawn into question, as well as at least one lawsuit (see   DiNapoli Sues Aldus over Pay-to-Play Scheme).

In addition to losing its New York state relationship, Aldus has also been fired from a similar mandate with the state of Connecticut retirement system (see  CT’s Nappier Adds Third-Party Manager Disclosures ).