Macalester investment chief takes over state fund

ST. PAUL, Minn. (AP) — Minnesota officials are turning to a hometown candidate to lead the state’s $68 billion investment portfolio.

The State Board of Investment has selected Mansco Perry III to be the first new executive director in more than three decades.

Perry was chosen Wednesday and was the sole finalist interviewed publicly by the board. He currently leads Macalester College’s investment fund. He formerly served as a deputy to state director Howard Bicker, who is retiring.

Perry will earn a salary of $325,000 a year.

His selection grew from a national search that identified 55 candidates.

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