Montana Board of Investments approves $40m commitment

The US public pension has backed a North America focused fund.

Institution: Montana Board of Investments
Headquarters: Helena, United States
Total AUM: $19.59bn
Allocation to Alternatives: 15.10%
Bitesize: $10-50m

Montana Board of Investments has revealed a commitment of $40 million to Veritas Capital Fund VII.

The relationship with Veritas Capital is over a decade old, the US public pension has invested in Veritas Capital Funds IV, V and VI.

The $19.59 billion state investment board manages the retirement funds of state public employees, teachers, police, firefighters, sheriffs, highway patrol, game wardens, judges, and volunteer firefighters in a pooled fund called the Consolidated Asset Pension Pool (CAPP).

Currently, allocation to alternatives stands at 15.10 percent, and allocation to private equity stands at 7.80 percent.

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