Montana Board of Investments, Helena, committed $45 million total to two alternative funds, said materials prepared for the Tuesday board meeting.
Investment staff committed $25 million to buyout fund JLL Partners Fund VII and $20 million to Stoltz Real Estate Fund V, a value-added fund managed by Stoltz Real Estate Partners.
Separately, core-plus fixed-income manager Aberdeen Asset Management was terminated, according to the meeting materials. Aberdeen, which ran about $105 million in the strategy, had been on watch for performance since the first quarter. A reason for the termination was not disclosed. An Aberdeen spokeswoman declined to comment.
The Montana board oversees nine pension funds with about $9.8 billion in assets combined.
David Ewer, executive director, could not be reached by press time.
