Montana Board of Investments (BOI) plans to deploy around $150m (€129m) annually into real estate under its long-term allocation strategy, according to the pension fund’s meeting document.
Montana BOI expects to target the US real estate market as part of its strategy, noting in the board meeting document that the domestic market is deep, liquid and well understood by the pension fund.
The pension fund also intends to maintain its exposure to real estate debt, a strategy expected to provide diversification from its equity investments, enhanced downside protection and steady current income.
Montana BOI is also planning to reduce its exposure to open-ended core and core-plus real estate funds, a move intended to generate liquidity to fund other real estate strategies.
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