---
title: Montana Invests $110M to Private Equity
description: Montana Invests $110M to Private Equity
---

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# [Montana Invests $110M to Private Equity](https://dakotafunds.com/dakota-funds/fundraising-news/montana-invests-110m-to-private-equity)

 Written by [Morgan Holycross, Marketing Manager](https://dakotafunds.com/dakota-funds/author/morgan-holycross-marketing-manager) | February 28, 2024

The Montana Board of Investments has allocated approximately $110 million to two private equity funds, according to materials from the February board meeting.

£40 million (~$50M) was committed to Apiary Capital Partners Fund II, a private equity. Apiary Capital is a UK based private equity firm that invests in the business, financial, technology, education, and healthcare services sectors.

Additionally, $60 million was committed Blue Sage Capital Fund IV. Blue Sage is a private equity firm based in Austin, Texas that focuses on small middle market buyouts.

As of December 31, 2023, the Montanan BOI total fund value was at $14.6 billion.

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of [Dakota Marketplace](https://www.dakota.com/dakota-marketplace)! *

[View full post](https://dakotafunds.com/dakota-funds/fundraising-news/montana-invests-110m-to-private-equity)

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