Montana Board of Investments commits $130m to two real estate funds

Montana Board of Investments (MBI) has disclosed $130 million in real estate investments.

The pension fund made a new commitment of $100 million to the Angelo Gordon Commercial Real Estate Debt Opportunities Fund III, a closed-end fund managed by Angelo Gordon, in April. The fund has exposure to office, retail, lodging, multifamily and industrial properties, mostly located in the United States, according to a recent investment report.

MBI said the commitment expands the portfolio’s investment in private real estate debt with a manager that has differentiated exposure across the commercial real estate debt market. MBI has invested in seven Angelo Gordon real estate funds since 2007, representing a total investment amount of $57 million.

In addition, MBI made a commitment of $30 million to Sterling United Properties II, a core-plus fund managed by Sterling Organizatio