Washington State Investment Board, Olympia, disclosed new and follow-on commitments totaling up to $1.7 billion at its meeting Thursday.
Within its private equity asset class, the board, which oversees $138.6 billion in assets including $107.5 billion in defined benefit plan assets, committed up to €375 million ($424 million) to European buyout fund Nordic Capital Fund X; and up to $400 million each to Oaktree Opportunities Fund XI, a distressed debt fund managed by Oaktree Capital Management, and growth capital and special situations fund TPG Growth V, spokeswoman Tish Day said in an email.
The board also committed up to $300 million to middle-market buyout fund GI Partners Fund VI.
As of March 31, the actual allocation to private equity was 23.4%.
Within its innovation portfolio, the board made a follow-on commitment of up to $200 million to OHA Artesian Customized Credit Fund I, a credit fund managed by Oak Hill Advisors, bringing the total commitment to $500 million.
As of March 31, the actual allocation to the innovation portfolio was 0.2%.