Montana BOI commits $50m to Kimmeridge infrastructure fund
Investors - AUGUST 29, 2023

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Montana BOI commits $50m to Kimmeridge infrastructure fund

by Lewis Dayton

The Montana Board of Investments (BOI), with more than $14 billion AUM within its pension fund holdings, and $27.1 billion AUM overall, has made a commitment of $50 million Kimmeridge Fund VI.

The latest vintage of Kimmeridge’s flagship fund, Kimmeridge Fund VI, will make investments in oil and gas (O&G) exploration and production (E&P), with a focus on direct operatorship, particularly looking at unconventional assets across top-producing basins in North America. Montana BOI’s $50 million commitment came shortly before Kimmeridge announced Fund VI has closed with more than $1 billion in raised capital.

Ben Dell, founder and managing partner of Kimmeridge, said, “While we are gratified to have played an important role in spurring a new E&P business model focused on profitability, shareholder alignment and environmentally conscious production, many O&G assets continue to trade at depressed valuations and lack relevance among skeptical investors. Th

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