State of Wisconsin Investment Board, Madison, is looking to commit $1.25 billion to $1.5 billion this year to private equity mangers, said Vicki Hearing, communications manager.
StepStone Group, SWIB's private equity consultant, is seeking to identify new managers, Ms. Hearing said in an e-mail.
SWIB expects to place the allocation with a total of 16 to 18 private equity funds, both existing and new relationships, Ms. Hearing said.
“The majority of the annual commitments will be made to existing relationships but SWIB will look to invest with new managers each year,” Mr. Hearing added.
Managers interested in consideration for the search should contact StepStone through its website and Chris Prestigiacomo, SWIB private equity portfolio manager.
SWIB's $91.1 billion core fund, which targets a 7% allocation, had $5.7 billion in private equity, a 6.3% exposure, as of March 31.