Institution: Minnesota State Board of Investment
Headquarters: St Paul, United States
AUM: $82.14 billion
Allocation to alternatives: 15.8%
Minnesota State Board of Investment committed $1.05 billion across four private equity vehicles, as mentioned during its February 2021 investment board meeting. These commitments were made to the institution’s existing managers.
The commitments comprised $300 million each to Adams Street Global Secondary Fund 7, Hellman & Friedman Capital Partners X and KKR North America Fund XIII; and $150 million to Thomas H. Lee Equity Partners IX.
Minnesota SBI also approved Albourne Partners as its private market consultant.
As illustrated below, Minnesota SBI allocates 9.5 percent of its full investment portfolio to private equity. Its recent commitments to private equity have employed a wide range of strategies across multiple sectors.
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