Searches and Hires

Washington slates nearly $3 billion for 8 managers

Washington State Investment Board, Olympia, announced new commitments totaling up to $3 billion, spokeswoman Tish Day said in an email.

The board, which oversees $129.1 billion in assets that includes $99 billion in defined benefit plan assets, approved seven private equity commitments totaling up to $2.72 billion.

The board committed up to $750 million each to Hellman & Friedman Capital Partners IX, a large-cap buyout fund, and TPG Partners VIII, an upper-middle-market buyout fund.

The board also committed up to $350 million to PAG Asia Capital Fund III, an Asian-focused private equity fund; up to $300 million to KKR European Fund V, a pan-European buyout fund managed by KKR & Co.; and up to €250 million ($291 million) to Triton Fund V, a northern European middle-market buyout fund managed by Triton Advisers.

Also, the board committed up to $200 million to TCV X, a private equity fund that focuses on technology firms managed by Technology Crossover Ventures, and up to $75 million to Riverside Micro-Cap Fund V, a buyout fund managed by The Riverside Co.

In its tangible assets asset class, the board committed up to $250 million to IFC Core Farmland Fund, managed by International Farming Corp.

As of March 31, the actual allocation to private equity was 21%. The actual allocation to tangible assets was 4%.