Alabama Trust Fund, Mobile, issued an RFP for the fund's first international core equity manager, running about $160 million, said Anthony Leigh, deputy state treasurer. The $2.5 billion fund, begun in 1981 with payments from oil-drilling companies working off the state's coast, is evenly split between active domestic equity and active domestic fixed income; executives want to diversify into international equity, said Mr. Leigh. Funding will come from both domestic equity and fixed income. Callan Associates is assisting.
The RFP is available at www.treasury.alabama.gov. Proposals are due April 7, and a manager should be selected by the end of the second quarter, Mr. Leigh said.