Washington State Investment Board, Olympia, made two new private equity commitments totaling up to $552 million, spokeswoman Tish Day said.
The board, which oversees $181 billion in assets, including $142.5 billion in defined benefit plan assets, was informed at its meeting Thursday of a staff-delegated commitment of up to A$480 million ($352 million) to BGH Capital Fund II, a middle-market buyout fund focusing on transactions in Australia and New Zealand.
The board previously committed up to A$390 million to BGH Capital Fund I in 2018.
Also on Thursday, the board approved a commitment of up to $200 million to middle-market buyout fund GTCR Strategic Growth Fund I.
The board previously committed $600 million to GTCR Fund XIII in 2020.
As of June 30, the actual allocation to private equity was 25.6%.