Searches and Hires

North Dakota State Investment Board seeks infrastructure investment consultant

North Dakota State Investment Board, Bismarck, is searching for an infrastructure investment consultant, said David Hunter, executive director and chief investment officer of the North Dakota Retirement and Investment Office, in an email.

The selected firm will provide consulting services for the board's $4.7 billion legacy fund and $2 billion insurance trust fund in the near term, and possibly the $5.3 billion pension trust in the long term, Mr. Hunter wrote. The legacy fund is an endowment fund that was created in 2010 for oil and gas tax revenue.

The board has $500 million invested in infrastructure now, including nearly $250 million in the pension trust, and is looking to add an additional infrastructure manager with assistance from the selected consultant, Mr. Hunter wrote.

An RFP is not being issued.

Interested firms can contact Mr. Hunter at 701-328-9889 for more information.

Callan Associates, the board's general investment consultant, Aon Hewitt Investment Consulting, Mercer and StepStone already have been invited to apply, Mr. Hunter wrote.

A hiring decision could be reached later this year or early next year.