Wisconsin Investment Board allocates $1.4 billion – Pensions & Investments

December 14, 2021 by No Comments

State of Wisconsin Investment Board, Madison, disclosed private equity and real estate commitments during the third quarter totaling $1.4 billion, according to materials for its board meeting scheduled for Tuesday and Wednesday.

In private equity, the board, which manages $157.9 billion in assets, including the $140.9 billion Wisconsin Retirement System, committed $300 million to Clearlake Capital Partners VII, a private equity special situations and value fund managed by Clearlake Capital Group; $75 million to LightBay Investment Partners II, a special situations fund managed by LightBay Capital; $50 million each to middle-market buyout fund Aterian Investment Partners IV and lower middle-market buyout fund GHK Capital Partners Fund I; $45 million to technology-focused growth equity fund Tidemark Fund I; $40 million each to venture capital fund Elephant Partners IV and STG Allegro, a small-company buyout fund focusing on technology managed by Symphony Technology Group; $35 million to Hg Titan I, a private credit fund managed by Hg Capital; and an additional $25 million to the original $50 million commitment approved in the second quarter to venture capital fund Recognize Partners I.

The board also disclosed 10 private equity commitments to co-investment funds totaling $250 million. The board did not disclose the fund names or managers.

By sector, four co-investment commitments totaling $80 were made to information technology, three commitments totaling $90 million to health care, and single commitments of $35 million to consumer discretionary, $25 million to materials and $20 million to industrial.

As of Sept. 30, the actual allocation to private equity/debt was 12.8%.

In real estate, the board disclosed commitments of $150 million each to BGO Cold Storage Investors, an industrial real estate fund focused on the cold-storage market managed by BentallGreenOak, and WESCO VI, a joint venture investing in apartment properties managed by SWIB and Essex Property Trust; $100 million to High Street Real Estate Fund VII, managed by High Street Logistics Properties; and a follow-on commitment of $50 million to CBRE GIP Medical Office Venture Fund, an open-end real estate fund managed by CBRE Investment Management. SWIB had previously committed $100 million to the CBRE fund in 2018. SWIB also committed $47 million to Campus at SGV Venture LLC. SWIB spokesman Vicki Hearing could not be immediately reached for further information on that commitment.

As of Sept. 30, the actual allocation to real estate was 6.9%.

Source: https://www.pionline.com/searches-and-hires/wisconsin-investment-board-allocates-14-billion


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