Montana invests $15m in PCCP fund
The $9.8 billion Montana Board of Investments has committed $15 million to PCCP Equity VII, according to recent meeting documents. The opportunistic fund, which launched earlier this year, is targeting $500 million and will invest in office, multifamily, retail and industrial assets, though up to 20 percent of the fund’s capital may be used for development. Earlier this year the $133 billion Texas Teacher Retirement System committed $150 million to the fund. The Montana pension fund has an 8 percent target allocation to real estate; as of June 30, the actual allocation was 8.8 percent.