Washington State Investment Board, Olympia, approved or disclosed up to $3.45 billion in commitments and investments at its board meeting Thursday, spokeswoman Tish Day said in an email.
Within its private equity asset class, the board, which oversees $193.8 billion in assets including $156 billion in defined benefit plan assets, was informed of staff-delegated commitments of up to $600 million to global buyout fund Advent International GPE X; up to $300 million to Green Equity Investors IX and up to $150 million to Jade Equity Investors II, both buyout funds managed by Leonard Green & Partners; up to $200 million each to buyout funds Thoma Bravo Fund XV and Thoma Bravo Discover Fund IV; and up to €175 million ($190 million) each to pan-European buyout funds Bridgepoint Europe VII and PAI Europe VIII, managed by PAI Partners.
Also at its meeting Thursday, the board approved commitments of up to $250 million to The Rise Fund III, a private equity fund with an impact investing focus managed by TPG; and up to $120 million to TPG Healthcare Partners II sidecar fund, a private equity fund with a health-care industry focus.
As of Dec. 31, the board's actual allocation to private equity was 27.5%.
Within real estate, the staff disclosed a follow-on commitment of $750 million to Partners Enterprise Capital Holdings, a real estate manager to which WSIB has previously committed a total of $4.5 billion in seven separate increments since 1999.
As of Dec. 31, the board's actual allocation to real estate was 17.2%.
Within its tangible assets asset class, the staff disclosed an additional investment of up to $500 million in Emerald Energy Venture, a joint venture between WSIB and National Grid North America that seeks investments in onshore renewable energy projects. To date, the board has made two investments totaling $644 million.
As of Dec. 31, the actual allocation to tangible assets was 5.5%.
