NorthWestern Energy, Sioux Falls, S.D., is conducting an invitation-only search for a single trustee to oversee its Montana Power Co. pension plan and Northwestern Energy and Communication Solutions pension plan, which have a combined $250 million in assets, said a spokesman for NorthWestern Energy. It also is conducting an asset allocation study of the plans. Both the search and the study will be finished in the beginning of the third quarter, at which time changes in investment managers are possible, he said.
Montana Power was acquired by NorthWestern Energy in February; NorthWestern Energy and Communication is a unit of NorthWestern Energy, and there are no plans to combine the two plans, the spokesman said.
He would not provide further details.
Bidart & Ross is assisting.