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Montana taps 2 for infrastructure, real estate – Pensions & Investments

Montana Board of Investments, Helena, hired CBRE Investment Management and EverWest Real Estate Investors to run customized separate accounts focusing on digital infrastructure and industrial real estate for the state’s $13.4 billion Consolidated Asset Pension Pool, said Ethan Hurley, the board’s director of investments, in a webcast of the board’s meeting Thursday.

The board, which manages a total of $25.4 billion in state assets, hired CBRE to manage a diversified portfolio focused on global digital infrastructure properties in global developed markets, Mr. Hurley said. He did not say how much the board had invested in the separate account.

The board has made a number of prior commitments to CBRE funds, including $30 million to CBRE Strategic Partners U.S. Value 9 in 2019.

Mr. Hurley also disclosed the board invested $80 million on behalf of the Consolidated Asset Pension Pool to a customized separate account managed by EverWest, a manager that focuses primarily on industrial properties. It is the first time the board is investing with EverWest.

As of June 30, the board’s consolidated pension pool had actual allocations of 17.3% and 12.7%, respectively, to private investments and real estate.

Savannah Morgan, board secretary, could not be immediately reached for further information.



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