State of Wisconsin Investment Board, Madison, disclosed alternative fund commitments during the third quarter totaling $1.1 billion in materials for its Dec. 13-14 board meeting.
In its private equity/debt asset class, the board, which manages $137.9 billion in assets, including the $109.4 billion Wisconsin Retirement System, committed $150 million to buyout fund Providence Equity Partners IX; $100 million to Sixth Street Lending Partners, an upper-middle-market direct lending fund; $85 million to Lime Rock Partners V, $43 million to Lime Rock Partners IV, $25 million to Lime Rock Partners IV-A, $13 million to Lime Rock Resources IV-C and $10 million to Lime Rock Partners VI, all restructured vintage energy funds; $83 million to Flexpoint Fund V-A, a private equity fund that invests in middle-market health-care and financial services companies, and $17 million to its sidecar fund Flexpoint Overage Fund V-A, both managed by Flexpoint Ford; $62 million to oil and gas fund Quantum Energy Partners VIII and $13 million to its co-investment fund, Quantum Energy Partners VIII Co-Investment; $50 million to private credit fund Blackstone Green Private Credit Fund III; $50 million to Shamrock Capital Content Fund III, a buyout fund managed by Shamrock Capital Advisors; €44 million ($46 million) to LEA Mittelstandspartner II-A, a buyout fund managed by LEA Partners; and $30 million to technology-focused buyout fund ParkerGale Capital III.
As of Sept. 30, the actual allocation to private equity/debt was 18.7%; the target is 15%.
In real estate, SWIB committed $116 million to Heitman Life Storage Co-Investment I, a life storage real estate co-investment fund; $100 million to AIGGRE U.S. Real Estate Fund IV, an opportunistic real estate fund managed by Corebridge Real Estate Investors; and $60 million, $30 million and $13 million, respectively, to BlackChamber Fund II Priority Co-Invest, BlackChamber Real Estate Opportunity Fund II and BC Co-Invest Brambleton Tech Park, all opportunistic real estate funds managed by Black Chamber Partners.
SWIB also disclosed a follow-on commitment of $25 million to MM BIG Peninsula Co-Invest Member, a co-investment fund investing alongside Barings Innovation & Growth Real Estate Fund. SWIB originally committed $75 million each to the innovation and growth fund and the co-investment fund earlier this year.
As of Sept. 30, the actual allocation to real estate was 10.6%; the target is 8%.