Montana Board of Investments, Helena, disclosed new commitments totaling $200 million.
The board, which manages a total of $24.3 billion, including $15.1 billion in the assets of nine state pension funds, disclosed commitments of $100 million to ITE Rail Fund, an open-end railcar leasing fund focused on acquiring, managing and leasing rail cars primarily in North America, managed by ITE Management; and $50 million each to BRV Lotus Fund III, a developed Asia growth equity fund managed by BlueRun Ventures, and buyout fund RiverGlade Capital Fund II.
The board previously committed $25 million to the first RiverGlade Capital fund in 2018. The other managers are new relationships for the board.
The commitments were disclosed in Feb. 16-17 board meeting materials.
As of Dec. 31, the consolidated asset pension pool's actual allocations to private investments and real assets were 15% and 4.6%, respectively.
