Washington State Investment Board, Olympia, expects to hire a consultant by the end of next week to conduct an asset allocation study, said Gary Bruebaker, the new chief investment officer for the $45.5 billion system. The investment board also will conduct an internal study and compare the results, he said.
Mr. Bruebaker said the board likely will hold off on making new investments until a new asset mix is adopted in May. The current policy asset mix is: 36% U.S. equities; 15% international equities; 15% private equities; 25% fixed-income; and 9% real estate.
In addition, the board on March 15 will review a recommendation to invest between $200 million and $300 million in Warburg Pincus Fund VIII, a venture capital and buyout fund.