Institution: West Virginia Investment Management Board
Headquarters: Charleston, United States
AUM: $19.89bn
Allocation to alternatives: 32.90%
Bitesize: $10-50m
West Virginia Investment Management Board confirmed $150 million-worth of private equity commitments across the first four months of 2020, a contact at the pension informed Private Equity International.
The commitments comprise of $35 million to BVIP Fund X managed by BV Investment Partners, alongside another five funds managed by two firms. Franklin Park received $20 million commitments from the pension for its funds Venture Capital XIII and International X, with Thoma Bravo receiving a $30 million commitment for its flagship series XIV fund; $25 million for its Discover Fund III; and $20 million for its Explore Fund.
The $19.89 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 9.60 percent.
As illustrated below, WVIMB’s recent round of private equity commitments have mostly targeted buyout funds. Two vehicles with venture and fund of funds strategies have also received commitments.
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