Minnesota State Board of Investment, St. Paul, made new commitments to five managers at its meeting Wednesday.
The $52.2 billion fund made a $50 million private equity commitment to Thomas, McNerney & Partners and $100 million commitments each to Court Square Capital, DLJ Investment Partners and GS Mezzanine. The board also awarded $100 million to real estate manager Blackstone Real Estate Partners. Howard J. Bicker, executive director, said all five companies already manage assets in various asset classes for the state fund.
The staff also is keeping watch on BlackRock, which manages $1.6 billion in core bonds, following announcement of its deal with Merrill Lynch, Mr. Bicker said. The fund doesn't maintain a watchlist. Mr. Bicker said the main concern is that the team responsible for the board's investments remains intact.