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Investors - FEBRUARY 24, 2014

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Montana invests $25m in real estate

by Reg Clodfelter

The $9.4 billion Montana State Board of Investments has committed $25 million to Stockbridge Value Fund II, according to board documents released in preparation for this month’s board meeting.

SVF II is a value-add fund managed by Stockbridge Capital Group that launched in September 2013. It has a fundraising goal of $500 million and had raised $184.3 million as of Feb. 11, 2014, according to a filing with the SEC. The fund is expected to invest in a wide variety of property types throughout the United States.

The Montana State Board of Investments had 8.98 percent of its portfolio, worth $842.6 million, invested in real estate as of Dec. 31, 2013. The portfolio achieved returns of 10.16 percent in 2013, 1.81 percent below its benc

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