SWIB approves $659.4m in commitments

The US public pension backed nine private equity vehicles in its Q4 2019 private markets commitments.

Institution: State of Wisconsin Investment Board
Headquarters: Madison, United States
AUM: $128.0bn
Allocation to alternatives: 14.90%
Bitesize: $50-100m

State of Wisconsin Investment Board confirmed $659.4 million-worth of private equity commitments across nine vehicles between September and December 2019, according to the pension’s Q4 2019 investment report.

Leonard Green & Partners received just under half of the total value of commitments – $300 million – across two vehicles: $250 million to Green Equity Investors VIII and $50 million to Jade Equity Investors fund.

$50 million apiece was also committed by SWIB to Cortec Group Fund VII and Shamrock Capital Content Fund II, alongside €150 million ($164.4 million) to Providence Equity Partners’ Strategic Growth Europe fund; $25 million to Turn/River Capital IV; $40 million to Yellow Wood Co-Invest Fortuna; $20 million to Volition Capital Fund IV and $10 million to Volition Capital Select Fund I.

The $128.0 billion US public pension has an 8.50 percent actual and target allocation to private equity and debt, which are grouped together as one asset class within the pension’s investment portfolio.

As illustrated below, WSIB has made several commitments to private equity funds with a 2019 vintage, which combined constitute $1.75 billion.

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