Montana Board of Investments, Helena, committed to one private equity fund and allocated to two investment strategies, said Dana Chapman, office manager and board secretary, in an email.
The board, which oversees about $11.3 billion in assets for nine state pension funds, disclosed at this week's meetings a commitment of $40 million to Pangaea Three, a private equity fund managed by Cartesian Capital Group. The commitment was made in July.
The board previously committed $20 million to Pangaea Two in April 2012.
The board also announced at meetings Tuesday and Wednesday meetings that it selected Northern Trust Asset Management to run $500 million in a U.S. large-cap equity index fund, and Grantham, Mayo, Van Otterloo to manage $50 million in a diversified strategy.