Politics & Government
Eagan Resident Chosen as Head of Minnesota State Board of Investment
Mansco Perry III will be executive director of the state's $68 billion investment portfolio, which is largely composed of public worker pension accounts.
An Eaganite will soon take the reins at Minnesota's State Board of Investment, the agency tasked with managing Minnesota's mammoth investment portfolio—a collection of trusts, pension funds and cash accounts amounting to about $68.6 billion as of June.
Mansco Perry III, 60, was chosen to be executive director by a unanimous vote after an extensive, nationwide headhunting effort, the Star Tribune reports. He will follow in the footsteps of Howard Bicker, who will soon retire after running the SBI for 32 years.
Perry is a familiar candidate. He worked at the SBI for 18 years, and once served as Bicker's deputy. More recently, he served as the chief investment officer at the Maryland State Retirement Agency from 2008 to 2010. Currently, he is employed at Macalester College, where he has managed the school's endowment.
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As the executive director of SBI, he will take home $325,000 annually, more than Gov. Mark Dayton's state salary.
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