Washington State Investment Board, Olympia, made $1.4 billion in private equity and real estate investments, confirmed Liz Mendizabal, a spokeswoman of the $73 billion fund, in response to an e-mail inquiry. It committed a total of $300 million to OCM Opportunities Fund VII and VIIb; up to €111 million ($153 million) to Apax Europe Fund VII; and up to $150 million to Avenue Special Situations Fund V, all private equity funds. In real estate, it put €160 million ($213 million) into Pacific Properties and allocated an additional $200 million to its existing $150 million investment in Morgan Stanley Real Estate Special Situations Fund III.
The fund also set up a $400 million emerging market real estate fund of funds that will be managed by WSIB staff with assistance of an external consultant to be selected later. Funding comes from earnings on other assets like public equity and fixed income, and from real estate and private equity investment returns. Private equity consultant Capital Dynamics and real estate consultant Courtland Partners assisted.
