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.
To read the latest edition of the latest IPE Real Assets magazine click here.