In 2021, state legislation (HB 1425) established an In-State Investment Program requiring a portion of Legacy Fund assets be invested in North Dakota. The State Investment Board (SIB), as advised by the Legacy and Budget Stabilization Fund Advisory Board, administers the program.
In line with state statute (SB 2330), a Legacy Fund investment policy adopted in July 2023 targets:
- $600 million to in-state equity investments
- $700 million to in-state fixed income investments
As of March 31, 2025, more than $500 million has been invested across North Dakota.
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RIO’s investment strategies take center stage at 2025 seminar
Wednesday, September 3, 2025 at 01:00 am
Categories: SIB News, Legacy Fund, In-state Investment ProgramRIO announced today that its 2025 Investment Seminar will be held Oct. 23 in Bismarck. The event offers policymakers, investment professionals, and the public with an inside view of how the agency, under the oversight of the SIB, manages investments to meet client expectations.
Legacy Fund’s in-state investment program expanded
Friday, June 13, 2025 at 01:00 am
Categories: SIB News, Legacy Fund, In-state Investment ProgramThe State Investment Board has expanded the Legacy Fund’s in-state investment program by adding GCM Grosvenor, a global alternative asset management solutions provider, to manage real assets investments and increasing its commitment to 50 South Capital, the manager of the program’s private equity and venture capital investments.
Legacy Fund Report: more than $450 million in 40 North Dakota businesses and communities
Thursday, November 14, 2024
Categories: SIB News, Legacy Fund, In-state Investment ProgramA report to the Legacy and Budget Stabilization Fund Advisory Board highlighted the progress of the Legacy Fund’s in-state investment program. At the close of the fiscal year, more than $450 million was committed to 40 North Dakota businesses and communities. To tap additional in-state opportunities, the State Investment Board will add another investment manager to the program’s roster next year.