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Minnesota State Board of Investment approves $150m commitment

The US public pension has backed Blackstone's latest private equity secondaries fund.

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Institution: Minnesota State Board of Investment
Headquarters: St. Paul, United States
AUM: $97.05bn
Allocation to alternatives: 13.80%
Bitesize: $100-200m

Minnesota State Board of Investment has agreed to commit $150 million to Blackstone’s Strategic Partners Fund VIII according to a recent report from the pension’s website.

The $97.05 billion US public pension invests in private equity funds both directly and through secondaries. Minnesota State Board of Investment has previously invested in Strategic Partners Fund VI and VII, with $150 million commitments to each fund.

As illustrated in the chart below, the pension has steadily increased its allocation to alternatives since 2014.

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