Washington State Investment Board, Olympia, approved or disclosed a total of $2.1 billion in new and follow-on commitments at its meeting Thursday.
The board, which oversees $141.8 billion in assets, including $109.8 billion in defined benefit plan assets, approved commitments of up to $250 million to Madison Dearborn Capital Partners VIII, a middle-market buyout fund managed by Madison Dearborn Partners, and up to $200 million to venture capital fund Insight Partners XI, spokeswoman Tish Tinker Day said in an email.
Independent consultant Hamilton Lane assisted.
As of Sept. 30, the actual allocation to private equity was 21.8%.
The board was also informed Thursday of a series of recent staff-delegated investments.
In real estate, the staff made a follow-on commitment of $500 million to Aevitas Property Partners, a real estate manager based in Amsterdam that invests in real estate on behalf of the board. This will be the fourth investment with Aevitas, following commitments of $250 million, $500 million and $500 million in 2012, 2014 and 2016, respectively.
The staff also made a follow-on commitment of $500 million to Partners Enterprise Capital Holdings, a real estate manager to which WSIB has previously committed a total of $3.5 billion in seven separate increments since 1999.
Also, the staff made a follow-on commitment of $250 million to Calzada Capital Partners, the board's direct real estate partner since 2013 that invests directly in global real estate operating companies.
WSIB has previously committed a total of $4.1 billion to Calzada Capital before this new follow-on commitment.
Independent consultant StepStone Group assisted with the real estate commitments.
As of Sept. 30, the actual allocation to real estate was 18.4%.
Within the board's innovation portfolio, the staff committed up to $175 million directly and up to $75 million in co-investments to GI Data Infrastructure Fund, a value-added infrastructure fund managed by GI Partners.
As of Sept. 30, the actual allocation to the innovation portfolio was 0.2%.
Independent consultant Meketa Investment Group assisted.
Within the board's tangible assets asset class, the staff committed up to $100 million to Lime Rock Resources V, an oil and gas fund. As of Sept. 30, the actual allocation to tangible assets was 5.2%. Independent consultant TorreyCove Capital Partners assisted.
