Searches and Hires

Wisconsin Investment Board sets $639 million for private equity, real estate

State of Wisconsin Investment Board, Madison, disclosed new private equity and real estate commitments totaling $639 million, in materials for the investment committee meeting Tuesday.

In real estate, the board, which oversees a total of $117 billion in assets, including the Wisconsin Retirement System's $100.3 billion, committed $150 million to Heitman Debt Separate Account VII, a private real estate account for which SWIB is the sole investor.

As of Dec. 31, SWIB's actual allocation to real estate equity was 6%.

In private equity, SWIB committed $75 million each to Patria Brazilian Private Equity Fund VI, a Brazilian middle-market buyout fund managed by Patria Investments, and Providence Strategic Growth III, a lower middle-market growth equity fund managed by Providence Equity Partners. SWIB previously committed $50 million to Patria Brazilian Private Equity Fund V in 2014 and $50 million to Providence Strategic Growth II in 2016.

SWIB also committed $70 million to Clearlake Capital Partners V, a special situations fund managed by Clearlake Capital Group, $65 million to Charlesbank Equity Partners IX, a buyout fund managed by Charlesbank Capital Partners and €50 million ($62 million) to EQT VIII, a buyout fund focused on the Nordic and German-speaking European regions. SWIB previously committed $50 million to Clearlake Capital Partners III in 2012, $35 million to Charlesbank Equity Partners VIII in 2014, and has made multiple commitments to previous EQT funds.

The board also committed $50 million each to Charlesbank Credit Opportunities Fund, a mezzanine debt fund, and TPG Growth IV, a small and midsize growth equity fund, and £30 million ($42 million) to Alchemy Special Opportunities Fund IV, a European distressed debt fund managed by Alchemy Partners. SWIB previously committed $50 million to TPG Growth III in 2015 and has made multiple commitments to previous Alchemy funds.

As of Dec. 31, SWIB's actual allocation to private equity was 6.7%.