WSIB approves $450m commitment

The US public pension has backed a buyout fund.

Washington State Investment Board has approved a $450 million commitment to TowerBrook Investors V, a private equity fund focusing on complex transactions and special situations, which is targeting $4 billion of equity from investors.

The $129 billion US public pension has a 23 percent target allocation to private equity that currently stands at 19.1 percent.

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