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Sign in Sign up for a FREE subscriptionMontana BOI slates $100m for DRA Advisors, Stockbridge vehicles
The Montana Board of Investments (BOI) has disclosed $100 million of commitments to real estate funds managed by DRA Advisors and Stockbridge.
The pension fund has slated $50 million each for the DRA Growth & Income Fund XI and the Stockbridge Value Add Fund V.
With a fundraising of $2.75 billion, the value-add DRA Growth & Income Fund XI will invest in a diversified portfolio of office, industrial, multifamily and retail properties in primary and secondary markets throughout the United States.
The Pennsylvania Public School Employees’ Retirement System, the Houston Police Officers Pension System and the Los Angeles Department of Water & Power Employees Retirement Plan also have backed the DRA Growth & Income Fund XI.
The Stockbridge Value Add Fund V, which opened in January, will invest in a mixture of office, industrial, retail and apartment assets. The San Mateo County Employees Retirement Association (SamCERA) also committed $30 mill
