Minnesota State Board of Investments, St. Paul, on Thursday approved the recommendation of its investment committee to commit a total of $775 million to six alternative investment funds.
The investment staff committed a total of $500 million to three managers from the board's $14.8 billion private equity portfolio with $300 million going to existing manager Lexington Partners' Lexington Co-Investment Partners V.
Two new private equity managers each received a $100 million commitment from MSBI. Whitehorse Liquidity Partners III will seek investments in private equity secondaries. Wind Point Partners IX-A, a North American midmarket buyout fund, focuses its investments in the consumer products, industrial products and business services sectors.
Existing manager BlackRock received a $100 commitment from the board's $4.5 billion real assets portfolio for investment in BlackRock Global Renewable Power Fund III.
New manager Marathon Asset Management received a $100 million commitment to Marathon Structured Product Strategies II from the $2.3 billion private credit portfolio.
From the $2.8 billion real estate portfolio, $75 million was committed to existing manager Angelo Gordon & Co.'s value-added AG Europe Realty Fund III.
As of June 30, the Minnesota State Board of Investment managed a total of $101.1 billion in public funds, including $70.7 billion of defined benefit plan assets and $10 billion of participant-directed retirement funds.