Dakota Live! Podcast: Navigating North Dakota’s Investment Landscape: Insights from the Department of Trust Lands

In this episode of the Dakota Live! Podcast, Robert Morier welcomes Joseph Heringer, Commissioner, and Frank Mihail, Chief Investment Officer, from the North Dakota Department of Trust Lands.

This conversation provides a comprehensive look into how North Dakota manages its substantial land and mineral assets to support educational institutions and other state beneficiaries.

The discussion highlights the unique structure and strategies of the North Dakota Department of Trust Lands, detailing the management of over 2.6 million acres of land.

Joseph Heringer shares insights into his role and the department's mission to maximize returns and revenue through prudent asset management. The episode delves into the importance of the partnership with the oil and gas industry, which significantly contributes to the state's revenue through royalties.

Frank Mihail discusses his role as CIO, overseeing a $7 billion sovereign wealth fund. He outlines the department’s investment strategies, including the introduction of various asset classes such as venture capital and distressed credit, and the restructuring of public fixed income and real estate investments. The conversation also covers the operational improvements and the use of technology to enhance efficiency in portfolio management.

Listeners will gain a deeper understanding of how the North Dakota Department of Trust Lands balances its commitments to education and the energy sector while ensuring sustainable growth and innovation.

Tune in to discover the intricacies of managing state assets and the strategic initiatives that drive North Dakota's investment success.