Alabama Trust Fund, Montgomery, is searching for a hedge fund-of-funds manager to run between $75 million and $150 million.
Callan, investment consultant for the $3.2 billion state trust fund, is assisting with the search.
Managers must have at least $2 billion in discretionary hedge funds-of-funds assets as of June 30 to be considered. They must also have at least 10 years experience managing hedge funds of funds.
The Alabama Trust fund is a sovereign wealth fund from the state's oil and gas royalties.
The RFP is available on the trust fund's website. Proposals are due by 5 p.m. EDT Oct. 12. A selection date was not disclosed.
State Treasurer Young Boozer and Annoesjka T. West, Callan senior vice president, could not be immediately reached for comment.