Washington State Investment Board’s private equity committee recommended that the Olympia, Wash.-based system invest $900 million in private equities this year, said Gary Bruebaker, chief investment officer. The committee recommended committing $600 million to existing partners and $300 million to new relationships. The full board will vote on the recommendation next week. Washington State’s $41.2 billion commingled trust has a 17% target allocation to private equities.
Separately, the board committed $400 million to Lone Star Fund IV, a real estate opportunity fund that seeks to raise $3.5 billion to $4 billion.
