Montana commits $20m to real estate
The Montana Board of Investments has committed $20 million to Equus Investment Partnership X, according to recent meeting documents. The fund is Equus Capital Partners’ 10th fund with a value-added strategy. Equus Investment Partners X launched in October 2014 and is targeting $400 million in equity commitments by the end of 2015. The fund will invest in diversified office, multifamily, industrial and retail properties in the United States. The fund’s predecessor, Equus Investment Partners IX, closed in January 2014 with $310 million in equity commitments. The $9.8 billion pension fund has an 8 percent target allocation to real estate, which is currently overweight at 8.7 percent of the total portfolio.