Montana terminates 3 international equity managers, slates $60M for 3 funds

by trusted insight posted 6years ago 6537 views
Montana Board of Investments, Helena, approved a $20 million commitment to ArcLight Energy Partners VI, an energy infrastructure fund that targets North American midstream and power assets and is managed by ArcLight Capital Partners.
Additionally, the investment staff committed $20 million each to AG Realty Fund IX and AG Core Plus Realty Fund IV, real estate funds managed by Angelo Gordon & Co.
As of March 31, the pension fund had a 10.4% allocation to private equity and 8.7% to real estate.
Hansberger Growth Investors and Martin Currie Investment Management were terminated from international large-cap growth equity strategies. AllianceBernstein (AB) was also terminated from an international large-cap value equity strategy. 
As of March 31, the pension fund had a 16.5% allocation to international equity.
The board oversees nine pension funds with about $10 billion in assets combined.

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