Bone marrow mesenchymal stem cells (MSCs) are plastic adherent cells that can differentiate into various tissue lineages, including osteoblasts, adipocytes and chondrocytes. However, this progenitor property is not shared by all cells within the MSC population. In addition, MSCs vary in their proliferation capacity and expression of markers. Because of heterogeneity of CD146 expression in the MSC population, we compared CD146^−/Low and CD146^High cells under clonal conditions and after sorting of the non‐clonal cell population to determine whether this expression is associated with specific functions. CD146^−/Low and CD146^High bone marrow MSCs did not differ in colony‐forming unit‐fibroblast number, osteogenic, adipogenic and chondrogenic differentiation or in vitro haematopoietic‐supportive activity. However, CD146^−/Low clones proliferated slightly but significantly faster than did CD146^High clones. In addition, a strong expression of CD146 molecule was associated with a commitment to a vascular smooth muscle cell (VSMC) lineage characterized by a strong up‐regulation of calponin‐1 and SM22α expression and an ability to contract collagen matrix. Thus, within a bone marrow MSC population, certain subpopulations characterized by high expression of CD146, are committed towards a VSMC lineage.