Washington State Investment Board, Olympia, approved four commitments or investments totaling up to $1.5 billion for private equity and real estate, spokeswoman Liz Mendizabal said.
The $103.6 billion board, at its Dec. 18 meeting, approved:
- A commitment of up to $250 million in KSL Capital Partners IV. The board has committed to previous KSL Capital Partners funds.
- A commitment of up to $150 million to Endeavour Capital Fund VII. The WSIB has invested in prior Endeavour funds.
- The board committed an additional $500 million to Evergreen Real Estate Partners. WSIB has committed $3 billion to Evergreen in $500 million increments beginning in 2004.
- The board also invested an additional $600 million with Calzada Capital Partners. The board transferred four directly owned real estate operating companies to Calzada upon its creation in 2013 and provided an additional $250 million commitment also in 2013 for new transactions.
The board uses intermediaries such as Calzada to assist with the oversight of investments as the portfolio continues to grow in complexity and size, Ms. Mendizabal said.
