Montana Board of Investments has approved an $80m (€78m) commitment to AEW’s open-ended cold storage real estate fund.
The pension fund disclosed in a meeting document that it had backed the AEW Cold Storage Properties Fund.
According to sources, Cold Storage Properties Fund, which was launched last year, has so far raised $700m.
The fund targets existing assets as well as some capital development and properties that require minor renovations.
AEW declined a request for comment.
Montana Board has also approved a $50m commitment into Marcus Partners Fund IV, a value-add US real estate seeking investments in East Coast cities.
The fund mainly targets industrial, life science and multifamily assets.
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