Minnesota State Board of Investments, St. Paul, yesterday pre-approved several potential private equity investments, giving investment staff authority to be nimble between quarterly board meetings. Three existing managers may receive the following allocations: the GTCR Fund VII, up to $175 million; the Fox Paine Capital II Fund, up to $100 million; and the Merit Energy Fund D, up to $100 million. The board for the $38 billion fund also approved investments of up to $100 million each to the new $1 billion GS Mezzanine Partners II Fund, managed by Goldman Sachs Merchant Bank, and the new $1.6 billion DLJ Investment Partners II Fund, managed by DLJ Merchant Banking. Investment in the Citicorp Mezzanine III Fund was increased to $100 million from $75 million. Investment in the Thoma Cressey Fund VI was increased to $50 million from $35 million.