West Virginia commits $60m to buyout funds

US public pension backs two buyout vehicles with $30bn each.

Institution: West Virginia Investment Management Board
Headquarters: Charleston, US
AUM: $23.7 billion
Allocation to private equity: 11.64%
Bitesize: $10-50m

West Virginia Investment Management Board (WVIMB) has comitted $60 million to two buyout funds managed by LS Power Group and Clearhaven Partners, according to the US pension’s recent meeting.

The commitments comprise $30 million each to LS Power Equity Partners V and Clearhaven Fund II.

The $23.7 billion US public pension has an 11.64 percent allocation to private equity.

As illustrated below, WVIMB’s recent round of private equity commitments have tended to focus on US-focused buyout and venture capital vehicles with a diverse sector range.

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