Montana Board of Investments has approved a $100m (€88.4m) commitment to OCP Asia Opportunities Fund, pension fund stated in a meeting document.
The opportunistic OCP Asia fund provides senior debt backed by traditional property types in Asia, according to people familiar with the fund.
It is currently unknown how much capital fund manager OCP Asia intends to raise for the vehicle.
Montana Board said in the meeting document that is planning to set up some separate account relationships. This investment structure would enable the $14.4bn pension fund to own real estate for a longer duration and also help build cash flow.
Montana Board typically invests in real estate through funds. Its real estate portfolio had a net asset value of $1.45bn as of the end of September.
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