Montana Board of Investments, Helena, later this month will issue an RFP for at least one active domestic non-large-cap enhanced index equity manager for the state’s nine pension plans with a combined $4.9 billion in assets, said James R. Penner, CIO. 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. A proposal deadline has not been set, but final presentations will be made at the board’s Jan. 30 meeting, he said. Proposals are available from Ed Kelly, assistant investment officer, by e-mail at [email protected]
Separately, the system committed $75 million to Oaktree Capital’s Opportunities Fund IVb, a private equity fund, said Mr. Penner. The commitment will be funded from cash and the system’s internally managed fixed-income portfolio, he said. The commitment is part of the system’s three-year plan to increase private equity to 7% of total assets, from 5%, he said.
The plan is not using a consultant.
