Montana Board of Investments, Helena, committed $75 million to Oaktree Capitals Opportunities Fund IVb, a private equity fund, said James R. Penner, CIO. The commitment will be funded from cash and the systems internally managed fixed-income portfolio, he said. The move is part of the $4.9 billion systems three-year plan to increase private equity to 7% of total assets, from 5%, he said.
Separately, the system later this month will search for at least one active domestic non-large-cap enhanced index equity manager, said Mr. Penner. Funding size has not been determined, but a portion probably will come from reducing a $400 million S&P 500 index account managed by Barclays Global Investors, he said. Final presentations will be made at the boards Jan. 30 meeting, he said.
The plan is not using a consultant.