Montana Board of Investments earmarks $250 million for 8 funds

Montana Board of Investments, Helena, committed a total of $250 million to eight alternatives funds, according to recently released board meeting minutes and agenda materials.

The board committed to three natural resource funds: $40 million to Denham International Power Fund, managed by Denham Capital; $30 million to Trilantic Energy Partners II, managed by Trilantic Capital Partners; and $25 million to White Deer Energy III.

It also committed $30 million each to three real estate funds: Stoltz Real Estate Fund VI, a value-added fund managed by Stoltz Real Estate Partners; BKM Industrial Value Fund II, managed by BKM Capital Partners; and Centerbridge Partners Real Estate Fund.

In private equity, the board committed to two buyout funds: $40 million to Levine Leichtman Capital Partners VI and $25 million to RiverGlade Capital.

The board oversees roughly $11.5 billion in pension fund assets. As of Dec. 31, the pension funds had an aggregate 10.2% allocation to private equity, 7% to real estate and 2.3% to natural resources.