Montana Board of Investments, Helena, committed $130 million total to five alternative funds, said materials prepared for next week's board meeting.
For the private equity portfolio, investment staff committed $35 million to Kinderhook Capital Fund V, a buyout fund managed by Kinderhook Industries; $30 million to Orchard Landmark II, a direct lending fund managed by OCP Asia; and $20 million to Warwick Partners III, an energy buyout fund managed by Warwick Energy Group.
The meeting materials also disclosed that the board sold its limited partner interests in Summit Partners Growth Equity VIII, and TA Fund XI, a buyout fund managed by TA Associates, on the secondary market. It originally committed $20 million and $10 million, respectively, to the funds. Further information could not immediately be learned.
In real estate, investment staff committed $25 million to GEM Realty Fund VI, an opportunistic real estate fund managed by GEM Realty Capital, and $20 million to Velocis Fund II, a value-added real estate fund.
The board, overseeing pension funds representing roughly $10 billion in assets, had an 11.2% allocation to private equity and 9.2% allocation to real estate as of June 30.
David Ewer, executive director, could not immediately be reached for additional information.