Washington State Investment Board, Olympia, approved up to $1.1 billion in new commitments on Thursday, confirmed spokeswoman Liz Mendizabal.
The board, which oversees $79 billion, committed up to $400 million each to Oaktree Opportunities Fund IX, a distressed debt fund, and KKR Asian Fund II, a private equity fund, up to $250 million for the Fifth Cinven Fund, a European buyout fund; and $50 million to the Hemisferio Sul Investimentos Fund IV, a real estate fund focusing on income-producing properties in Brazil.
The board also discussed its strategic plan, which includes possibly adding investment personnel and increasing salaries. No formal decisions are expected until near the end of the year, Ms. Mendizabal said.
“It is a first step in a long process,” she added.