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Minnesota State Board of Investment approves $500m in commitments to three private equity funds

The state investment board has backed a co-investment, a buyout, and a secondaries private equity fund.

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Institution: Minnesota State Board of Investment
Headquarters: St. Paul, United States
Total AUM: $101.11bn
Allocation to Alternatives: 10.2%
Bitesize: $100-200m

Minnesota State Board of Investment has committed $500 million to three separate funds, according to an announcement published on the state board’s website. The commitments comprise of $300 million to Lexington Co-Investment Partners V, $100 million to Wind Point Partners IX and $100 million to Whitehorse Liquidity Partners III.

Lexington CIP V will focus on buyout and growth opportunities in the US and Europe, as well as selectively in Asia and Latin America. Chicago-based Wind Point Partners targets North American middle market businesses in the industrial, consumer and business services sectors. Canadian firm Whitehorse Liquidity Partners focuses on making preferred equity investments in private equity portfolios.

The $101.11 billion state investment board currently allocates 10.2% of its funds to alternatives.

As illustrated in the charts below, Minnesota State Board of Investment’s commitments to funds of 2019 vintage total $1.55 billion.

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