Alabama Trust Fund, Montgomery, rehired Callan as investment consultant for the $3.3 billion sovereign wealth fund overseeing the state's oil and gas royalties.
The search was launched in September because the fund's contract with Callan was set to expire early next year, said Cory Rambo, director of the trust fund's fiscal operations division.
AndCo Consulting and NEPC also submitted bids.
"The board selected Callan based on qualifications and pricing," Mr. Rambo said in an email.
