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
At the close of FY2025 (June 30, 2025), more than $500 million was invested in communities 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 ProgramThe Retirement and Investment Office 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 State Investment Board, 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.