Washington State Investment Board, Olympia, committed up to $200 million to buyout fund Thoma Bravo Fund XIV.
The board, which oversees $138.6 billion in assets including $107.5 billion in defined benefit plan assets, approved the private market committee's recommendation at its meeting Thursday, spokeswoman Tish Day said in an email.
It is the board's first commitment to a fund managed by Thoma Bravo, Ms. Day said.
As of March 31, the actual allocation to private equity was 23.4%.
