November 23, 2024

State of Wisconsin Investment Board, Madison, disclosed private equity and real estate commitments during the second quarter totaling $1.5 billion in materials for its upcoming board meeting Wednesday.
In real estate, the board, which manages $145.8 billion in assets, including the $124.9 billion Wisconsin Retirement System, committed $300 million to global real estate fund Blackstone Real Estate Partners X; $150 million to RREEF Core Plus Industrial Fund, an open-end real estate fund managed by DWS Group; $50 million to AG Asia Realty Fund V, a value-added real estate fund managed by Angelo, Gordon & Co.; and $50 million each to Gateway Real Estate Fund VII and Gateway VII Co-Investment Account (SWIB), both China-focused real estate funds managed by Gaw Capital.
The board also made follow-on commitments of $100 million to Rockwood Multifamily Partners, a real estate fund managed by Rockwood Capital; $26 million to open-end industrial real estate fund Realterm Airport Logistics Properties; and $25 million to Wilson HCF Wisconsin Holdings 8, a customized real estate fund managed by Heitman.
SWIB originally committed $150 million to the Rockwood fund in 2021 and $26 million to the Realterm fund in 2020, and has made multiple commitments to the Wilson fund totaling $225 million.
As of June 30, the actual allocation to real estate was 9.5%.
In private equity, the board committed €150 million ($149 million) to EQT X, a buyout fund managed by EQT Partners; $100 million to Blackstone Tactical Opportunities Fund IV, an opportunistic global multistrategy alternatives fund; $100 million to Glendon Opportunities Fund III, a credit and special situations fund managed by Glendon Capital Management; €65 million to Hg Genesis 10, a buyout fund managed by Hg Capital; $50 million to Ares Special Opportunities Fund II, a middle-market distressed credit fund managed by Ares Management; $50 million to buyout fund Sterling Group Foundation Fund; $50 million to middle-market buyout fund Varsity Healthcare Partners IV; $40 million to Centerbridge Seaport Acquisition Fund, a buyout fund managed by Centerbridge Partners; and $37 million to buyout fund Water Street Healthcare Partners V.
Also during the second quarter, the board completed a total of $76 million in three information technology private equity co-investments, one financials co-investment and one health-care co-investment.
As of June 30, the actual allocation to private equity/debt was 17.6%.
Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.
Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.
Our Mission
To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.
Main Office
685 Third Avenue
Tenth Floor
New York, NY 10017-4036

Chicago Office
130 E. Randolph St.
Suite 3200
Chicago, IL 60601

Contact Us
Careers at Crain
About Pensions & Investments
 

source

About Author