Washington State Investment Board, Olympia, made six new commitments to alternatives funds totaling up to $1.09 billion, said Liz Mendizabal, spokeswoman.
The board, which oversees $104 billion in assets, committed $739 million to three private equity funds: €225 million ($289 million) to Bridgepoint Europe V, a European buyout fund; $250 million to Advent Latin American Fund VI, a private equity fund managed by Advent International; and $200 million to Roark Capital Partners IV, a private equity fund managed by Roark Capital Group.
Hamilton Lane assisted; the board had invested in previous funds of all three managers.
The board also committed $150 million to Sheridan Production Partners III, a natural resources fund that makes direct investments in oil and gas companies. The board invested in a previous fund. TorreyCove Capital Partners assisted.
The Washington state board committed $100 million to Prostar Asia-Pacific Energy Infrastructure Fund and made a co-investment of up to $100 million in Global Terminal Investments, both managed by energy and infrastructure manager Prostar Capital. These are first-time investments with Prostar. Courtland Partners assisted.
Separately, the board at its meeting on Thursday adopted an investment belief that it wants “full disclosure of (climate change) risks anticipated by the companies in which we invest and the investment managers with whom we partner, along with full disclosure of what they are doing to manage these risks.”
The board also added an addendum to its proxy voting guidelines saying it will generally support shareholder “proposals calling for greater disclosure of risks and risk-mitigation actions related to financial, environmental, social and governance issues, believing that such disclosure tends to be beneficial and in the long-term best interest of the company and its shareholders, absent any meaningful competitive reasons for limiting disclosure.”
