State of Wisconsin Investment Board, Madison, disclosed private equity and real estate commitments during the first quarter totaling $1.38 billion, according to materials for its board meeting Tuesday and Wednesday.
Within private equity, the board, which manages $148.8 billion in assets, including the $132.6 billion Wisconsin Retirement System, committed $350 million to large-cap buyout fund Hellman & Friedman Capital Partners X; $200 million to PSG Encore Warehouse, managed by Providence Strategic Growth Capital; $100 million to Atlas Capital Resources IV, a buyout fund managed by Atlas Holdings; and $75 million to Sterling Group Credit Fund II, a mezzanine fund managed by The Sterling Group.
The board also committed $60 million to Charlesbank Equity Fund X, a middle-market private equity fund, and $15 million to Charlesbank Equity Overage Fund X, both managed by Charlesbank Capital Partners; $60 million to growth equity fund JMI Equity Fund X; $50 million each to Activant Capital IV, a growth equity fund managed by Activant Capital Group, venture capital fund Hedosophia Partners IV and buyout fund Percheron Capital Fund I; $35 million to growth equity fund Avenue Growth Partners Fund I; and $25 million each to Shamrock Capital Debt Opportunities Fund I, a private debt fund managed by Shamrock Capital Advisors, and growth equity fund VMG Partners V.
The board also made follow-on commitments of $20 million to Midwest-focused buyout fund Great Range Capital Fund II and $15 million to lower middle-market buyout fund Seaside Equity Partners Fund I. The board originally committed $35 million to each fund in 2020.
As of March 31, the actual allocation to private equity/debt was 10.6%.
In real estate, the board committed $150 million to Hudson Single-Family Rental Fund, an open-end value-added real estate fund managed by Hudson Advisors, and $100 million to Penwood Select Industrial Fund VI, an industrial real estate fund managed by Penwood Real Estate Investment Management.
As of March 31, the actual allocation to real estate was 6.6%.