MBOI makes $80m commitment

The organization has backed a North America-focused private real estate vehicle.

Institution: Montana Board of Investments
Headquarters: Helena, US
AUM: $23.04 billion
Allocation to alternatives: 17.05%

Montana Board of Investments has committed $80 million to Bell Core Fund I, according to the organization’s June 2021 investment board meeting documents.

MBOI has also previously made commitments to fund manager Bell Partners, including Bell Institutional Fund VII and Bell Apartment Fund VI

As illustrated below, MBOI’s recent private real estate commitments have primarily been made to funds that employ a value-add strategy in North America. Real estate constitutes 7.08 percent of the organization’s investment portfolio.

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