Montana Board of Investments approves $160m in commitments

The US public pension has backed three North America-focused real estate funds.

Institution: Montana Board of Investments
Headquarters: Helena, United States
AUM: $12.23bn
Allocation to alternatives: 25.00%
Bitesize: $10-50m

Montana Board of Investments committed $100 million to Walton Street Real Estate Debt Fund II, $30 million to DRA Growth & Income Fund X and $30 million to Oak Street Real Estate Capital Fund V. Capital raised by all three vehicles will be used to invest in properties throughout North America, with Walton Street Capital using its second debt fund to invest in both North America and Latin America.

The $12.23 billion US public pension currently has an allocation of 6 percent to real estate.

As illustrated in the charts below, MBI devotes 25 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for funds that invest in value-add properties throughout North America.

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