State names new top investment guru

Author:
Updated:
Original:

KMSP is calling him Minnesota's '68 Billion Dollar Man.' He's a state employee who will earn almost three times what the Governor makes. And you've probably never heard of him.

MPR reports that Mansco Perry III was named today as the new executive director of the Minnesota State Board of Investment. The board, comprised of the governor, attorney general, state auditor and secretary of state, oversees the state agency that manages the $68 billion investment of public retirement funds, trust funds, and cash accounts.

Perry was the sole finalist for the job among 55 candidates. His hiring followed a six-month nationwide search. Perry is currently chief investment officer at Macalester College in St. Paul, where he has overseen the college's $634 million endowment and investments.

Perry succeeds Howard Bicker, who will retire next month after more than 30 years in the position. Perry had previously been an assistant to Bickers.

Perry will earn a salary of $325,000 per year. The Star Tribune notes the governor's salary is currently $120,303. Gov. Mark Dayton said Perry's salary is in line with managers in similar positions in other states. Dayton called it a reasonable amount.

“He’s making at Macalester now $319,000,” Dayton said. “You can’t expect him to come over here for less. So, I think it’s appropriate. It’s a lot of money, but that’s the nature of that line of work.”

Next Up

jim ramstad

Watch former Rep. Jim Ramstad's memorial service online

The ceremony will be live-streamed for the public on Sunday.

EDL1LeKXsAEeH32

How high can Rashod Bateman go in the 2021 NFL Draft?

The Gophers star receiver has plenty of praise heading into next April.

TCF Bank Stadium

15 more from Gopher football team test positive for COVID-19

That brings the total number of cases from this outbreak to 40.

Teddy Bridgewater

5 questions for Vikings-Panthers Week 12 NFC battle

The Vikings welcome Teddy Bridgewater back to U.S. Bank Stadium on Sunday.

police lights

Shelter-in-place in Albert Lea after police officer shot in the chest

The officer was able to drive to an emergency room.

En-KfRaXEAEbuE7

St. Paul officer shoots man who got out of dumpster, ran towards police

A report says the man was naked and had a steak knife.

Screen Shot 2020-11-28 at 6.58.11 PM

Gophers dominate second half to defeat Loyola-Marymount

Marcus Carr scored 26 to send the Gophers to 2-0.

Ambulance hospital emergency

Kandiyohi Co. man airlifted after hand caught in corn picker

Corn pickers are a common cause of farm accidents.

White tail deer

DNR: Passenger shot at deer out of driver's side window

The DNR said 'all sense of safety was disregarded.'

Screen Shot 2019-07-18 at 9.10.30 AM

Mpls council proposal would cut nearly $8M from 2021 police budget

The "Safety for All Budget Plan" was introduced Friday.

Related