Montana Board of Investments committed $90m (€73m) to three new real estate funds during the final quarter of 2017.

The pension fund said in its meeting document that it is putting $30m each into Stolz Real Estate Fund VI, BKM Industrial Value Fund II and Centerbridge Partners Real Estate Fund.

Stolz and Centerbridge did not respond to a request for comment. BKM declined to comment.

According to sources that track fundraising in the US, Stolz plans to raise $300m with a $500m hard cap for Fund VI.

The fund plans to invest in core-plus and value-add US office, industrial, retail and apartments assets.

BKM Capital Partners’ first fund raised $105m at the final close in February 2016. BKM Fund II is a value-add investment fund that buys multi-tenant industrial assets.

It currently has a joint venture with California Public Employees’ Retirement System through the pension fund’s emerging manager programme run by Canyon Partners Real Estate.

The Centerbridge fund intends to invest opportunistically in a mixture of corporate platforms, loans and direct assets.

An SEC filing in November last year did not disclose the fundraising amount.

Montana Board’s real estate investment currently accounts for around 7% of the $11.3bn of assets it manages.