Searches and Hires

Oklahoma Tobacco trust OKs search for MLP manager

Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, approved issuing an RFP for a master limited partnership manager, said Tim Allen, spokesman for the Oklahoma state treasurer's office, which oversees the roughly $1 billion trust, in an email.

The staff will work with investment consultant NEPC on the process. A date for issuing the RFP has not been determined. It will be posted on NEPC's website.

The size of any allocation to MLPs will be decided at a later meeting of the board, said Mr. Allen. The trust does not currently have any MLP managers.

A funding source for the allocation has not yet been determined, nor has a time frame for selecting a manager.