Searches and Hires

Montana Board of Investments allocates $375 million

Montana Board of Investments, Helena, hired two managers to run a total of $250 million and committed a total of $125 million to three buyout funds, according to recently released board meeting minutes and agenda materials.

The board hired Jacobs Levy Equity Management to run $170 million in a domestic large-cap partial long/short equity strategy and Congress Asset Management to manage $80 million in a domestic midcap growth equity strategy.

The board also committed to three buyout funds: $75 million to OCP Asia Fund III; $30 million to Deerpath Capital Advantage IV, managed by Deerpath Capital Management; and $20 million to Builders VC Fund I.

The board oversees roughly $11.2 billion in pension fund assets. As of March 31, it had an allocation of 35.2% to domestic equity and 10.8% to private equity.

Executive director David Ewer could not be reached for comment.