MBI confirms $110m in commitments

MBI has backed three North America focused funds.

Institution: Montana Board of Investments
Headquarters: Helena, United States
AUM: $20.99 billion
Allocation to alternatives: 15.58%

Montana Board of Investments approved $110 million-worth of private equity commitments in February, according to board meeting documents released in June.

The commitments included $10 million to Foundation Capital Leadership Fund II; $50 million each to Odyssey Investment Partners Fund VI and Sumeru Equity Partners Fund III.

MBI has existing relationships with the managers of the aforementioned funds. It has a long history of fund commitments to Odyssey Capital Partners and also made a previous commitment in April 2019 to a fund managed by Foundation Capital.

As illustrated below, MBI’s recent commitments have been North America focused. It currently allocates 15.58 percent of its investment portfolio to alternatives.

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