Montana Board of Investments, Helena, made a total of $40 million in commitments to three alternatives managers, said materials prepared for the Feb. 24-25 board meeting.
The investment staff approved a $20 million first-time commitment to buyout fund American Securities Partners VII. Investment staff previously committed $35 million to predecessor fund American Securities Partners VI.
Additionally, the investment staff committed an additional $10 million each to value-added real estate funds Stockbridge Value Fund II and CBRE Strategic Partners U.S. Value 7.
Investment staff previously committed $25 million to the Stockbridge Capital Group fund and $15 million to the CBRE Global Investors fund in 2014.
Separately, AllianceBernstein was added to the watchlist for performance on a $35.5 million domestic small-cap growth equity strategy.
An AllianceBernstein spokesman could not immediately be reached for comment.
The board oversees nine pension funds with a total of $9.8 billion in assets. As of Jan. 31, the pension funds’ asset allocation was 39.3% domestic equities, 23.1% fixed income, 16.2% international equities, 10.7% private equity, 8.9% real estate and the remainder in cash.
David Ewer, executive director, could not be reached for additional information by press time.
