Montana Board of Investments, Helena, committed a total of $45 million to three private equity managers, said David Ewer, executive director on the investment board.
The board committed $20 million to Centerbridge Capital Partners III, a distressed debt fund managed by Centerbridge Partners. The board previously committed $57.5 million total to three other Centerbridge Partners funds.
The pension fund also committed $15 million to Tenaya Capital VII, a venture capital fund, and $10 million to Spire Capital Partners III, a buyout fund.
The board previously committed $20 million to predecessor fund Tenaya Capital VI.
Separately, the board placed Artisan Partners Asset Management's domestic midcap value equity strategy on watch for performance. About $132.5 million is invested in the strategy. The board also put Voya Investment Management's domestic small-cap growth equity strategy on watch due to the pending retirement of its lead portfolio manager. No further details were provided. About $31.2 million is invested in the strategy.
Mike Roos, spokesman for Artisan Partners, could not be reached for a comment by press time.
The board oversees nine pension funds with a total of $9.8 billion in assets. As of June 30, the pension funds' asset allocation was 39.2% domestic equities, 21.7% fixed income, 17.8% international equities, 10.5% private equity, 8.7% real estate and 2.1% cash.