Montana Board of Investments sold out of the Chicago firm’s Fund IV at a premium, with an undisclosed buyer committing to Fund V.
The investment from the Swiss pension includes a commitment to the firm's timberland fund which focuses on secondaries.
The fund's purchases include stakes in two Akina Partners funds acquired with secondaries firm Newbury Partners.
The firm makes direct secondaries investments in high-growth tech companies.
The former Citi captive expects to hold the final close on the vehicle by the end of the year, Secondaries Investor has learned.
The amount has been raised in five months.
The investment firm has amassed $1.7bn for the vehicle and is eyeing a summer final close.
Monte Rosa IV, which is more than twice the size of its predecessor, will invest across primaries, secondaries and co-investments.
The preferred equity pioneer had a 90% re-up rate in its latest vehicle that exceeded its initial target.
The preferred equity specialist has amassed $400m for its debut fund and made a raft of appointments.