Private Equity News & Analysis

WSIB commits $600m to private equity

The $80.1bn Washington State Investment Board has approved $1.7bn in commitments including roughly $600m to private equity and $250m to co-investments outside the pension’s core asset classes.

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The Washington State Investment Board has committed nearly $600 million (€414 million) across three private equity funds after last month posting a $2.9 billion first quarter loss, including a -2 percent return on its private equity portfolio.

The pension, which had $80.1 billion in assets as of 30 June, last week approved a commitment of up to €200 million to UK-based Charterhouse Capital Partners’ ninth fund for European buyouts. Washington State also committed up to €150 million to German private equity fund Triton Fund III for European investments and up to $50 million to the FountainVest China Growth Capital Fund for growth capital investments in the $50 million to $100 million range.

Washington State also approved a commitment of $250 million to in-house fund Tangible Assets Co-Investment. That fund co-invests in sectors not covered within other asset classes including infrastructure, timber, agriculture, natural resource rights and commodities.

The state pension also committed $900 million to real estate including $500 million to Evergreen Real Estate Partners and $400 million to Hometown America Holdings.

As of 30 June, the Washington State Investment Board had $13.8 billion of total assets committed to private equity and $8.7 billion committed to real estate.