Montana Board of Investments, Helena, committed $55 million total to two private equity funds, said materials prepared for last week’s board meeting.
Investment staff committed $35 million to Centerbridge Special Credit Partners III, a distressed debt fund managed by Centerbridge Partners, and $20 million to Dover Street IX, a secondary private equity fund managed by HarbourVest Partners.
The board oversees $9.9 billion in pension fund assets and had an 11.1% allocation to private equity as of March 31.
It has previously committed to other Centerbridge and HarbourVest funds.
David Ewer, executive director, could not immediately be reached for additional information.