Montana Board of Investments, Helena, is searching for a custodian, said Rick Dorvall, procurement officer for the state.
The selected custodian will also provide securities lending services.
The seven-year contract would begin on or around Nov. 1, according to the RFP.
The contract for incumbent State Street Bank is set to expire on Oct. 31, according to minutes from the April 8 board meeting. State Street can rebid, Mr. Dorvall said.
The RFP is available on the state's website. Proposals are due by 2 p.m. MDT on May 28.
A recommendation will go to the board at the Aug. 19-20 board meeting.
Separately, the board, which oversees $9.5 billion in pension assets, committed $20 million each to two private equity funds: Trilantic Energy Partners (North America), managed by Trilantic Capital Partners and GI Partners Fund IV, according to materials prepared for the May 20-21 board meeting.
The board made previous commitments to two other Trilantic Capital Partner funds: $11 million to Trilantic Capital Partners IV and $20 million to Trilantic Capital Partners V.
The board does not have any current investments in other GI Partners funds.
Also, the board committed $15 million to CBRE Strategic Partners U.S. Value 7, a value-added real estate fund managed by CBRE Global Investors, according to the meeting notes. The board previously committed $20 million to CBRE Strategic Partners U.S. Value Fund 6.