North Dakota State Investment Board, Bismarck, is searching for an active international equity manager to potentially replace Capital Group, said David Hunter, executive director and chief investment officer of the North Dakota Retirement and Investment Office, in an e-mail.
Capital Group, which currently manages a $430 million international equity strategy, was put on watch in August due to an announcement that three of the strategy’s seven portfolio managers would no longer be managing the strategy.
An RFP will not be issued. Current and new managers will be considered. Interested firms can contact the board’s investment consultant, Callan Associates, Mr. Hunter said.
A decision is expected in the first half of 2016.
The retirement and investment office oversees the $10.7 billion investment board, which includes pension and insurance assets.