(updated with correction)
Ohio State Highway Patrol Retirement System's investment committee recommended hiring Forest Investment Associates to manage a $29 million timber portfolio, confirmed Mark Atkeson, executive director of the Columbus-based pension fund.
The committee on April 19 will present its recommendation to the board of the $692 million retirement fund for approval.
The pension fund had issued an RFP in October because of “general concerns” with incumbent Timbervest, which was invited to rebid but did not, Mr. Atkeson said.
RMK Timberland Group and Timberland Investment Resources were the other finalists.
Investment consultant Hartland & Co. is assisting.