Minnesota State Board of Investment, St. Paul, approved private equity and real estate commitments totaling $1.35 billion at its meeting Wednesday, said Mansco Perry III, executive director and chief investment officer, in an email.
The board approved commitments of $300 million each to Blackstone Capital Partners Asia II, an Asian buyout fund managed by Blackstone Group; Brookfield Strategic Real Estate Partners IV, a global real estate fund managed by Brookfield Asset Management; and Carlyle Realty Partners IX, an opportunistic real estate fund managed by The Carlyle Group.
The board also approved commitments of $150 million each to KKR MN Partnership, a private equity fund managed by KKR & Co.; growth equity fund TPG Growth V; and technology-focused venture capital and growth equity fund TPG Tech Adjacencies II.
The Minnesota State Board of Investment managed a total $116.9 billion as of March 31, including $84.5 billion in defined benefit assets; $9.8 billion in participant-directed defined contribution plans; and the balance managed in other state funds, according to the board's website.
Mr. Perry could not be immediately reached for further information.