Alabama Trust Fund, Montgomery, is searching for an active emerging markets equity manager to run $35 million, said an RFP on the website of Young Boozer, Alabama state treasurer.
The $2.5 billion fund is seeking a manager to run either a separate account or commingled fund. According to the fund's most recent investment report, Wells Fargo was the fund's sole emerging markets equity manager, running $75 million as of March 31.
The Alabama Trust Fund invests oil and gas capital payments generated by drilling activity off the shore of Alabama.
Proposals are due at 5 p.m. EDT on Aug. 14. A timeline for a decision has yet to be determined.
The RFP is available on the treasurer's website.
Separately, the trust fund rehired Callan Associates as investment consultant at its May 21 board meeting, according to recently released minutes. The fund issued an RFP in December. Further information on finalists could not be learned by press time.
Callan is assisting in the emerging markets equity search.
Mr. Boozer and Kyle Fekete, investment analyst at Callan Associates, did not return phone calls by press time.