Maine Office of the State Treasurer, Augusta, is searching for investment managers for multiple state funds including the $13 million Lands Reserved Trust Fund and $7 million Baxter State Park Trust Fund, an RFP posted on the treasurer's website said.
The office is seeking a provider to “recommend and implement a static asset allocation and passive investment structure for the state held trusts.” The funds have target allocations of 75% equities and 25% fixed income. In addition to the two endowments, the manager would oversee the State of Maine Several Trusts Fund, which the RFP says is comprised of about 80 commingled trusts with total assets of $42 million.
Information regarding current managers could not be learned by press time.
Proposals are due at 2 p.m. EST on Nov. 17. A timeline for a hiring decision was not provided. The RFP is available on the treasurer's website.
Eliza Fielding, treasury services specialist, did not reply to requests for further information by press time.
