The Washington State Investment Board, Olympia, committed to two venture capital funds and one real estate fund, said James Parker, executive director of the $27.4 billion pension fund.
The board will invest $40 million in Vestar Capital Partners III Fund, $40 million in Contrarian Capital Fund II and $50 million in Lone Star Opportunity Real Estate Fund. Although funding was planned to come from a reduction in U.S. equity, Mr. Parker believes most will come from cash flow. Brinson Partners assisted in the venture capital search; Pension Consulting Alliance, the real estate search.
Separately, the board is finishing up its asset review and Mr. Parker expects a decision to be made on a new allocation at the Dec. 19 meeting
