The Washington State Investment Board, Olympia, approved a number of commitments at its Thursday board meeting, according to a report of actions taken.
WSIB, which oversees $181.6 billion in assets, approved an investment of up to $115 million in CBRE Minke Investments, a separately managed account with CBRE Investment Management. The separate account will invest in a Canadian transportation‐related infrastructure platform sourced by CBRE's private infrastructure team. This investment will mark WSIB's first investment with CBRE in its tangible asset portfolio.
The board also said that some staff-delegated investments will be implemented, including an additional commitment of $1 billion to Evergreen Park Investment Fund, a co-investment private equity fund managed by Fisher Lynch Capital. WSIB previously committed $2 billion to Evergreen Park Investment Fund in April 2021, raising the total commitment to $3 billion.
Staff also committed up to $400 million to New Mountain Partners VII, a buyout fund managed by New Mountain Capital. This fund will pursue control investments in North American "middle-market companies in diverse sectors with defensive growth characteristics," the report noted.
This commitment denotes WSIB's third investment with New Mountain. The most recent commitment was $300 million to New Mountain Partners VI in 2020.