Washington State Investment Board, Olympia, approved up to $1.8 billion in alternatives commitments, said Liz Mendizabal, spokeswoman, in an e-mail.
The board, which oversees $100.6 billion in assets, approved more than $1 billion in new private equity commitments:
- Up to $200 million to Warburg Pincus Energy Fund, a global energy fund. The board has made previous commitments to Warburg Pincus.
- Up to €200 million (U.S. $273 million) to KKR European Fund IV, a pan-European fund. The board previously committed about $8.5 billion to KKR funds.
- Up to $600 million to Hellman & Friedman Capital Partners VIII, a trans-Atlantic fund. The board previously committed a total of $750 million to three Hellman & Friedman funds.
Also, the board approved a total of up to $250 million in new “tangible assets” commitments:
- $150 million to Cascade Midstream Partners I, which is managed by Bunge Asset Management and focuses on midstream agricultural assets in the U.S. and Canada.
- Up to $100 million to Reservoir Resource Partners TE, which is managed by Reservoir Capital Partners and will invest in existing natural resources and power assets with a focus on out-of-favor or distressed assets.
Finally, the board approved a $500 million additional commitment to Aevitas Property Partners, a real estate fund. Previously, the board committed $250 million to the fund in April 2012.