State of Wisconsin Investment Board, Madison, disclosed private equity and real estate commitments during the first quarter totaling $1.9 billion in materials for its board meeting Tuesday and Wednesday.
In private equity, the board, which manages $160 billion in assets, including the $140.9 billion Wisconsin Retirement System, committed $200 million to Green Equity Investors IX and $50 million to Jade Equity Investors II, both buyout funds managed by Leonard Green & Partners; €150 million ($161 million) to European buyout fund Bridgepoint Europe VII; $150 million and $50 million, respectively, to buyout fund Francisco Partners VII and growth equity fund Francisco Partners Agility III; $115 million and $60 million, respectively, to buyout funds Thoma Bravo Fund XV and Thoma Bravo Discover Fund IV; €100 million to PSG Europe II, a growth equity fund targeting software and technology-enabled service companies in Europe; $100 million to Clearlake Opportunities Partners III, a non-control and special situations focused fund managed by Clearlake Capital Group; $80 million and $40 million, respectively, to NGP Natural Resources X and NGP Natural Resources XII, both private equity energy funds managed by NGP Energy Capital Management; $75 million each to growth equity funds JMI Equity Fund XI and Updata Partners VII; $60 million to Caltius Partners VI and $15 million to Caltius Partners VI (SBIC), both mezzanine funds managed by Caltius Capital Management; €50 million to Procuritas Capital Investors VII, a buyout fund focused on the Nordic region managed by Procuritas Partners; $50 million to Bison Capital Partners VI, a private equity and debt fund managed by Bison Capital Asset Management; $35 million to Shore Capital Food & Beverage Partners Fund II, a buyout fund managed by Shore Capital Partners; $28 million to buyout fund Radian Capital Partners III; and $25 million each to private equity co-investment fund Dyal Capital Partners V Co-Invest Odyssey (B), managed by Blue Owl Capital, and Polaris Growth Fund II, a growth equity fund managed by Polaris Partners.
The board also added $10 million to an existing commitment to buyout fund LFM Capital Partners III-A. SWIB had originally committed $25 million to the fund in the fourth quarter of 2021.
As of March 31, the actual allocation to private equity/debt was 15.1%.
In real estate, the board committed $200 million to CBRE U.S. Logistics Partners, an open-end core-plus real estate fund managed by CBRE Investment Management; $75 million each to Barings Innovation & Growth Real Estate Fund and MM BIG Peninsula Co-Invest Member, a co-investment fund investing alongside the Barings fund; an additional $17 million to WESCO III, a joint venture investing in apartment properties managed by SWIB and Essex Property Trust; and $5 million to opportunistic real estate fund Crow Holdings Development Opportunities Fund I.
As of March 31, the actual allocation to real estate was 7.9%.
