Washington State Investment Board trustees yesterday approved up to...

Washington State Investment Board trustees yesterday approved up to $550 million in new private equity commitments, said Ashu Rajbhandari, senior investment officer for private equity at the $45.7 billion, Olympia-based pension fund. The board committed up to $150 million to Madison Dearborn Partners II, which does both turnarounds and buyouts of companies with market capitalizations of up to $500 million; and a commitment of up to $400 million to Kohlberg Kravis Roberts' European buyout fund.