[ST. PAUL, MN] – The Minnesota State Board of Investment voted today to select Jill Schurtz to serve as the board’s Executive Director and Chief Investment Officer. The board, which oversees over $120 billion in state pension and other funds, is comprised of Governor Tim Walz, State Auditor Julie Blaha, Secretary of State of Steve Simon, and Attorney General Keith Ellison.
The board’s decision comes after Mansco Perry III announced his intention to retire from the position later this year. Perry has led the SBI since 2013, and has overseen extraordinary gains for the benefit of thousands of Minnesota employees and retirees. The board thanked Perry for his many years leadership and service to the state.
Schurtz has served as the Chief Investment Officer and Executive Director of the St. Paul Teachers’ Retirement Fund Association since 2014. In that role, she is responsible for the fund’s $1.2 billion investment program and the administration of $120 million of annual pension benefits. She was previously the CEO of Robeco-Sage, an asset management firm. Schurtz is a graduate of the United States Military Academy, West Point, and she served seven years in the United States Army, where she attained the rank of Captain. Following her military service, she received her law degree from Columbia Law School.
The board selected Schurtz after she was recommended by a search committee chaired by Gary Martin, Chief Investment Officer at Macalester College. The search committee included representatives of the state’s three largest pension funds, the State Board of Investment members, and the board’s Investment Advisory Council. The search committee worked with Korn Ferry—a well-regarded search firm—to conduct a national search and vet candidates. After conducting an interview with Schurtz, the board offered her the position of Executive Director and Chief Investment Officer. The board also authorized the search committee to finalize the terms and conditions of Schurtz’s employment.
Additional information about the State Board of Investment can be found at its website .