Montana Board of Investments, Helena, disclosed new private investments and real assets commitments totaling $299 million for the $13.7 billion Consolidated Asset Pension Pool of nine state pension fund assets.
The board, which manages a total of $24.4 billion, disclosed the commitments in materials for its Dec. 12 meeting.
Within its private investments asset class, the board committed $75 million to NB Strategic Co-Investment Partners V, a co-investment fund managed by Neuberger Berman; $70 million to North American lower-middle-market buyout fund McCarthy Capital Fund VIII; and £40 million ($50 million) to U.K.-focused buyout fund Kester Capital III.
As of Sept. 30, the CAPP's actual allocation to private investments was 18%.
Within real assets, the board committed €50 million ($54 million) to EQT Active Core Infrastructure and $50 million to EQT Infrastructure VI, both infrastructure funds managed by EQT.
As of Sept. 30, the CAPP's actual allocation to real assets was 6.4%.
