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%.
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