Montana Board of Investments putting $90 million into alternatives

Montana Board of Investments, Helena, committed $90 million total to four alternatives funds, according to documents prepared for the Feb. 25-26 board meeting.

The board, which oversees $9.4 billion in pension assets, committed $25 million each to Odyssey Investment Partners Fund V, a middle-market buyout fund, and Stockbridge Value Fund II, a value-added real estate fund managed by Stockbridge Capital Group. The board invested in the two prior Odyssey funds and the first Stockbridge fund.

Also, the board committed $20 million each to Eureka III, a lower middle-market buyout fund managed by Eureka Growth Capital Management and HKW Capital Partners IV, a middle-market buyout fund managed by Hammond, Kennedy, Whitney & Co.. The board does not currently have investments with either manager.