State of Wisconsin Investment Board, Madison, hired MKP Capital Management, making a $125 million investment in MKP Opportunity, a global macro hedge fund, according to a report by board staff.
The MKP fund invests across stocks, bond, commodities and currencies and “has little to no exposure to the broad equity market,” according to the report by the board, which oversees $89.6 billion.
The new investment will bring to 11 the total number of hedge funds in which SWIB invests, and increases its actual hedge fund allocation to $1.3 billion.
Separately, the board committed $100 million to Advent International GPE VII; $75 million each to Apollo European Principal Finance Fund II, managed by Apollo Global Management and Wayzata Opportunities Fund III, run by Wayzata Investment Partners; $50 million to Clearlake Capital Partners III; and $40 million each to Avalon Ventures X and FountainVest Partners China Growth Capital Fund II.
