Montana Board of Investments approves $75m in commitments

The US public pension has backed a North America-focused energy fund and an Asia Pacific-focused venture capital fund.

Institution: Montana Board of Investments
Headquarters: Helena, United States
AUM: $12.23bn
Allocation to alternatives: 25.00%
Bitesize: $10-50m

Montana Board of Investments committed $30 million to Mountain Capital Partners II and $45 million to Ascendant Capital Partners III. Mountain Capital Management’s second fund will be used to invest in distressed energy companies throughout North America, while Ascendant Capital Partners’ third vehicle will be used to invest in early-stage companies throughout the Asia-Pacific region within the consumer goods, healthcare and technology sectors.

The $12.23 billion US public pension currently has an allocation of 12 percent to private equity.

As illustrated in the charts below, MBI devotes 25 percent of its full investment portfolio to alternative assets. The pension has a strong appetite for funds across diversified strategies, sectors and regions.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.