Montana Board of Investments, Helena, hired ING Investment Management and Metropolitan West Capital Management to run $20 million to $25 million each in active domestic small-cap equities, according to documents prepared for the upcoming Tuesday meeting of the board, which oversees $8.2 billion in pension assets.
ING will run a growth strategy; MetWest will run value.
The hires were a result of desires by staff and investment consultant R.V. Kuhns & Associates to further diversify the domestic equity allocation. The board's target allocation to domestic equity is 45%; as of Dec. 31, the fund had an actual allocation of 42.38%.
Separately, the board committed $20 million to GEM Realty Fund V, managed by GEM Realty Capital.
David Ewer, executive director, did not return a phone call for further information by press time.
