Montana Board of Investments has approved a $50m (€42.6m) commitment each into the Sterling Consumer Logistics Properties Fund I and the Centerbridge Partners Real Estate Fund II funds, according to the pension fund’s meeting document.

The fundraisng target for the Sterling Organization fund is currently unknown. According to sources, the core US logistics fund raised an initial $129m during the first half of the year.

Sterling Organization, which managers the fund through its newly formed Sterling Logistics Properties arm, did not respond to a request for comment.

As previously reported, Centerbridge Partners raised $500m during the first quarter of the year for its North America and Europe opportunistic fund which is expected to reach its $1.5bn capital raising target in the third quarter of the year.

The Centerbridge fund will target digital real estate, industrial/logistics, hospitality, self-storage and possibly some retail.

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