Montana commits $25m to CBRE value-added fund
The $16.4 billion Montana Board of Investments has committed $25 million to CBRE Strategic Partners U.S. Value 8, managed by CBRE Global Investors, according to a board meeting document.
The closed-end fund series targets investments in major and secondary U.S markets, focusing on class A office, industrial, retail and multifamily properties.
The pension fund has previously committed to the series predecessors, including two separate allocations of $15 million in 2014 and $10 million in 2015 to CBRE Strategic Partners U.S. Value 7 and an allocation of $20 million to CBRE Strategic Partners U.S. Value 6 in 2012.
In addition, the pension fund previously committed $45 million to two real estate funds