Fees rise slightly at Montana even as reliance on funds-of-funds falls

Montana Board of Investments, private equity, pension fund
A bison walks in Yellowstone National Park in Wyoming, U.S. on August 10, 2011. REUTERS/Lucy Nicholson/File Photo - RTSUFAX
  • PE management fees $26.4 mln, up from roughly $26 mln
  • Reliance on funds-of-funds declines, driving down costs
  • Questions about fees, expenses arose at Montana's last meeting
Montana Board of Investments paid its private equity fund managers more than $26.4 million in fees last year, a slight increase from a year earlier. Montana disclosed its total costs in a report prepared by CEM Benchmarking, a consultant that ...

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