State of Wisconsin Investment Board, Madison, committed or invested a total of $1.4 billion in hedge funds, private equity, real estate and other asset classes during the third quarter, according to a staff report for its board meeting Wednesday.
In real estate, SWIB, which oversees a total of $115.8 billion in assets, including the Wisconsin Retirement System's $105.5 billion in assets, committed $231.25 million to Project Dynasty; $150 million to WESCO V, a joint venture with Essex Property Trust; and $100 million each to FPA Core Plus III, a core-plus fund managed by FPA Multifamily, and Realterm Logistics Venture. SWIB also committed $27.26 million to Penwood Joint Venture, managed by Penwood Real Estate Investment Management, and $23.3 million to Scout Fund II Co-Invest, managed by Hawkeye Partners. Further information on Project Dynasty could not be learned by press time.
In the board's "funds alpha" asset class, which includes hedge funds, the board made investments of $400 million with TCW Group, $100 million with Pharo Management and $25 million each with Marshall Wace and Two Sigma Investments. Further information on the strategies could not be learned.
In private equity, the board committed $100 million to buyout fund GTCR Fund XII; $53 million to Waterland Private Equity Fund VII, a European buyout fund managed by Waterland Private Equity Investments; and $50 million each to LightBay Investment Partners, a buyout fund managed by LightBay Capital, and Sterling Group Credit Fund, a mezzanine fund managed by The Sterling Group.
Vicki Hearing, SWIB spokeswoman, could not be immediately reached to provide further information.