Washington State Investment Board, Olympia, committed up to $750 million to the TPG Partners VI fund, up to $250 million to the Morgan Stanley Real Estate Special Situations Fund III, and up to €100 million ($148.3 million) to the Advent International GPE VI fund, said Liz Mendizabal, spokeswoman for the $84.8 billion board.
Separately, the board hired AllianceBernstein as target-date fund manager for the states $3.9 billion Teachers Retirement System, the $2.5 billion Deferred Compensation Program, the $1.3 billion Public Employees Retirement System, the $1 billion School Employees Retirement System and the $13 million Judicial Retirement Account, pending contract negotiations, Ms. Mendizabal said. The board issued an RFP in October. The target-date funds will replace internally managed horizon funds. Callan Associates assisted on the target-date RFP.