Minnesota State Board of Investment, St. Paul, on Thursday approved more than $1 billion in commitments to nine alternatives funds, according to information on the board's website.
The board, which oversees $97.1 billion in state pension and other assets, approved the following private equity commitments: €135 Million ($151 million) each to European buyout funds IK IX Fund, managed by IK Investment Partners; and Permira Fund VII.
It also approved commitments of up to $150 million apiece to Apax X, a venture capital fund managed by Apax Partners; and TPG Partners VIII, an upper-middle-market buyout fund.
Also in private equity, the board approved a commitment of up to $100 million to KKR European Fund V, and $50 million to Warburg Pincus China-Southeast Asia II.
In private credit, the board agreed to commit $100 million to LBC Credit Partners V.
In real assets, the state board approved a commitment of $150 million to two natural resources funds managed by Energy & Minerals Group — its Energy & Minerals Group Fund V and Energy & Minerals Group Fund V Accordion.
The commitments are pending successful contract negotiations.
The board had a 13.8% allocation to private markets as of Sept. 30.
Mansco Perry III, the board's executive director and chief investment officer, could not be immediately reached for additional information.