Washington State Investment Board commits up to $1.8 billion

Washington State Investment Board, Olympia, approved up to $1.8 billion in alternatives commitments, said Liz Mendizabal, spokeswoman, in an e-mail.

The board, which oversees $100.6 billion in assets, approved more than $1 billion in new private equity commitments:

Also, the board approved a total of up to $250 million in new “tangible assets” commitments:

  • $150 million to Cascade Midstream Partners I, which is managed by Bunge Asset Management and focuses on midstream agricultural assets in the U.S. and Canada.
  • Up to $100 million to Reservoir Resource Partners TE, which is managed by Reservoir Capital Partners and will invest in existing natural resources and power assets with a focus on out-of-favor or distressed assets.

Finally, the board approved a $500 million additional commitment to Aevitas Property Partners, a real estate fund. Previously, the board committed $250 million to the fund in April 2012.