Minnesota State Board of Investment, St. Paul, on Wednesday approved commitments of up to $150 million each to Blackstone Capital Partners VII, a global multisector buyout fund managed by Blackstone Group and CVI Credit Value Fund III, a global opportunistic private equity fund managed by CarVal Investors.
The board, which oversees $80 billion in state pension and other assets, also committed up to $100 million each to TA Realty Associates Fund XI, a value-added multisector real estate fund, and EnerVest Energy Institutional Fund XIV-A, a U.S. oil and gas properties fund.
All commitments are subject to contract negotiations, said Mansco Perry III, the board's executive director.
The commitment to EnerVest is MSBI's first with the firm; the board has existing commitments with the other three managers.
The board has a 20% target allocation to alternative investments, and an actual allocation of 12.1% as of March 31, according to the board's website.
