Washington State Investment Board, Olympia, committed up to $1.4 billion to four managers, board spokesman Chris Phillips said in an email.
The approvals came at the board's meeting Thursday and are subject to continued due diligence and final negotiation, Mr. Phillips said. The board oversees $112.4 billion in assets, including $84 billion in defined benefit assets.
The largest approval is a commitment up to $600 million to Silver Lake Partners V, a buyout and growth fund.
The board also approved a commitment of up to $250 million to GI Partners Fund V, also a buyout fund with a target size of $2.3 billion.
In renewable energy, the board approved a commitment of up to $300 million to Geronimo Energy's Geronimo Renewable Infrastructure Partners. The new North American renewable energy fund has a target size of $1 billion.
The board also approved a commitment of up to $200 million in Orion Mine Finance Fund II, managed by Orion Resource Partners, and up to $50 million in co-investments with the fund.
The $2.5 billion fund will invest in lower-risk mining projects that are in production or in late stages of pre-production, Mr. Phillips said in the email.