Montana Board of Investments, Helena, committed a total of $75 million to three alternatives funds since its last board meeting, according to documents prepared for the Aug. 20-21 board meeting.
The board, which oversees $8.5 billion in pension assets, committed $40 million to TIAA-CREF Asset Management Core Property Fund, an open-end real estate fund.
It also committed a total of $35 million to two buyout funds — $20 million to Trilantic Capital Partners V (North America) and $15 million to Southern Capital Fund III, managed by Southern Capital Group.
The board invested in the predecessor Trilantic fund and invested non-pension assets in the TIAA-CREF fund. It is its first investment with Southern Capital.
Separately, Post Advisory Group was put on watch because of personnel changes. It manages about $166 million in a high-yield strategy for the board. Post Advisory was taken off the watchlist earlier this year for improved performance.