Wisconsin puts nearly $1.2 billion into alts in first quarter

State of Wisconsin Investment Board, Madison, committed or invested a total of $1.2 billion in hedge funds, private equity, real estate and other asset classes during the first quarter, according to a staff report for its Tuesday-Wednesday board meeting.

In private equity, SWIB, which oversees a total of $104.6 billion including the Wisconsin Retirement System’s $96.4 billion in assets, committed $100 million each to buyout funds Providence Equity Partners VIII, and Trident Fund VII, managed by Stone Point Capital; $75 million to RCP Small and Emerging Fund, a private equity fund of funds managed by RCP Advisors; $50 million to European sector-focused private equity fund HgCapital 8; and $43 million to private equity fund of funds WP North America Private Equity managed by WP Global Partners.

Also under private equity, SWIB committed a total of $63 million to four co-investment funds: $21 million and $15 million to industrial co-investment funds, $15 million to a software co-investment and $12 million to a healthcare co-investment fund. The names of the funds and managers were not identified.

In real estate, SWIB committed $165 million to Wilson HCF Wisconsin Holdings 5, managed by Heitman; $100 million to Buchanan Separate Account II, managed by Buchanan Street Partners; and $75 million to High Street Real Estate Fund V, managed by High Street Equity Advisors.

Under SWIB’s funds alpha allocation, the board made direct hedge fund investments of $125 million in a hedge fund managed by Efficient; $75 million each in hedge funds managed by Marshall Wace and Pharo Management; $50 million each in hedge funds managed by Arrowgrass Capital Partners and Highbridge Capital Management; and $30 million in a hedge fund managed by Benefit Street Partners. Further information on fund names and styles could not be immediately learned.

SWIB spokeswoman Vicki Hearing could not be immediately reached to provide further information.