Montana Board of Investments, Helena, committed $25 million to CBRE Strategic Partners U.S. Value 8, said materials prepared for Thursday's board meeting.
The value-added real estate fund is managed by CBRE Global Investors.
The board documents also disclosed that investment staff terminated a $63 million domestic midcap growth equity strategy managed by Nicholas Co. The reason for the termination could not immediately be learned. Assets were transferred to existing passive domestic large-cap equity manager BlackRock, raising its total allocation to $2.2 billion.
The board, which oversees roughly $10 billion in pension fund assets, had a roughly 9% allocation to real estate and roughly 38% allocation to domestic equity as of June 30.
David Ewer, executive director, could not immediately be reached for additional information.