Washington allocates $2.34 billion to private equity, real estate

Washington State Investment Board, Olympia, disclosed private equity and real estate commitments totaling up to $2.34 billion, spokeswoman Tish Day said in an email.

The board, which oversees $192.3 billion in assets, including $156.6 billion in defined benefit plan assets, was informed at its meeting Thursday of staff-delegated private equity commitments of up to $500 million to buyout fund Silver Lake Partners VII; up to $300 million each to Carlyle Partners VIII, a buyout fund managed by Carlyle Group, and buyout fund Francisco Partners VII; up to €270 million ($289 million) to European buyout fund Nordic Capital XI; and up to $200 million to Providence Equity Partners IX.

The board has made prior commitments to all managers, most recently committing $750 million to Silver Lake Partners VI in 2021, $600 million to Carlyle Partners VII in 2018, $428 million to Nordic Capital X in 2021, $400 million to Providence Equity Partners VIII in 2019 and $300 million to Francisco Partners in 2021.

As of March 31, the actual allocation to private equity was 28.7%.

In real estate, the board was informed of a staff-delegated follow-on commitment of $750 million to Calzada Capital Partners, the board's real estate partner since 2013 that invests directly in global real estate operating companies.

WSIB had previously committed a total of $4.8 billion to Calzada Capital before the follow-on commitment.

As of March 31, the actual allocation to real estate was 18.9%.