Minnesota SBI approves $150m commitment

The state agency has backed an Asia-Pacific buyout fund.

Institution: Minnesota State Board of Investment
Headquarters: St. Paul, United States
AUM: $104.30bn
Allocation to alternatives: 8.00%
Bitesize: $100-200m

Minnesota State Board of Investment committed $150 million to KKR Asian Fund IV. Capital raised by the vehicle will be used to invest in companies throughout the Asia-Pacific region within the consumer goods, manufacturing and technology industries.

The $104.30 billion US organisation currently allocates 3.50 percent to private equity.

As illustrated in the charts below, Minnesota SBI devotes 8 percent of its full investment portfolio to alternative assets. The state agency has a strong appetite for funds that target the North America, Western Europe and Asia-Pacific regions.

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