DFX Intelligence
Allocator Intelligence
The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.
State retirement system
Montana Public Employees Retirement System DB Plan
State retirement systemstate generalMTcomponent of a larger system
Assets
$7.2B
Total assets, Jun 30, 2024 reported
Funded
n/a
not filed
Private markets target
29.0%
policy Jun 30, 2024
Commitments
0
none on the tape
Invested by: Montana Board of Investments
Allocation policy
ACFR, as of Jun 30, 2024
| Asset class (as printed) | Bucket | Target | Range | Actual | Gap | Basis |
|---|---|---|---|---|---|---|
| Cash | Cash | 3.0% | reported mpera.mt.gov | |||
| Core Fixed Income | Fixed income | 15.0% | 9% to 19% | 14.5% | -0.5 | reported mpera.mt.gov |
| Non-Core Fixed Income | Fixed income | 6.0% | 5% to 9% | 7.0% | +1.0 | reported mpera.mt.gov |
| Private Investments | Private equity | 15.0% | 12% to 20% | 16.8% | +1.8 | reported mpera.mt.gov |
| Domestic Equity | Public equity | 30.0% | 23% to 35% | 27.3% | -2.7 | reported mpera.mt.gov |
| International Equities | Public equity | 17.0% | 10% to 20% | 14.0% | -3.0 | reported mpera.mt.gov |
| Real Assets | Real assets | 5.0% | 3% to 9% | 6.0% | +1.0 | reported mpera.mt.gov |
| Real Estate | Real estate | 9.0% | 7% to 15% | 12.1% | +3.1 | reported mpera.mt.gov |
Actual allocation lines without a target (as filed)
- Cash Equivalents (CAPP STIP) 1.3%
- STIP 1.0%
Consultants and advisers
4 firms
- RVK, Inc. General consultantthrough Jun 30, 2024 ACFR
- Cavanaugh Macdonald Consulting Actuarythrough Jun 30, 2024 ACFR
- Milliman, Inc. Actuarythrough Jun 30, 2024 ACFR
- State Street Bank & Trust Company Custodianthrough Jun 30, 2024 ACFR
People
3 roles
Chief investment officer
Jon Putnam
Chief Investment Officer (Jun 30, 2024) mpera.mt.gov
the Montana Board of Investments (BOI) Chief Investment Officer Jon Putnam
- Maggie Peterson President, Montana Public Employees' Retirement BoardBoard chair
- William J Holahan Executive DirectorExecutive director / CEO
Manager roster
No manager relationship is on the tape for this allocator.
Commitments
No fund commitments are on the tape for this allocator. The tape holds the plans that publish their own private-markets reports; a plan that publishes one and is not here is a gap we can close.
Size and funding
58 readings
Fiduciary net position
$7.2B (2024-06) · $6.9B (2023-06) · $6.6B (2022-06)
What changed
No dated events yet.
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: Census PID6 226258
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.