Oppenheimer Picks up Value Manager

February 12, 2002 (PLANSPONSOR.com) - OAM Institutional, a subsidiary of OppenheimerFunds, has agreed to acquire Gulf Investment Management, of Houston, a separate account manager.

The transaction, the terms of which were not disclosed, is expected to close this spring.

Founded in 1980, Gulf Investment Management focuses on large-cap value stocks by identifying companies with shares that are selling at least a third below their value. The company had approximately $2.5 billion in assets under management as of December 31, 2001.

Its clients include corporate and public pensions, unions, endowments, and foundations.