News

Northern Trust today announced an expansion of its long-standing relationship with the Retirement and Investment Office to include outsourced trading services, supporting the agency’s strategy to bring more of its State Investment Board's asset management in-house.

The 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.

The State Investment Board has appointed Jodi A. Smith as the permanent executive director of the North Dakota Retirement and Investment Office. The decision was made during a special SIB meeting on June 3, 2025.

The Retirement and Investment Office in partnership with Sagitec, a leader in pension administration software solutions, successfully launched a modernized Pension Administration System for the Teachers' Fund for Retirement. This marks a significant milestone in a pension modernization project, which sought to enhance platform efficiency, security, and service for the fund's more than 25,000 active, inactive, and retired members.

At a special meeting today, the State Investment Board elected Gov. Kelly Armstrong as its chair, reaffirming the Board’s commitment to strong leadership.