The State of Wisconsin Investment Board committed a total of over $1B across 16 funds in private equity, private credit, and real estate during the third quarter.
In recently published materials from its board meeting on December 11, the state pension said it made a series of commitments to eight private equity, three private credit, and five real estate funds from July to September, listed below:
- Sterling Group Credit Fund III (private equity-growth): $100M
- Blackstone Capital Opportunities Fund V (private equity-growth): $75M
- North Haven Capital Partners VIII (private equity-growth): $75M
- Peninsula Capital Partners VIII (private equity-middle market buyout): $75M
- Hughes Growth Equity Fund II (private equity-growth): $50M
- SPC Wilson Point (private equity-middle market buyout): $50M
- VMG Consumer VI (private equity-growth): $50M
- StoneTree Investment Partners Fund (private equity-middle market buyout): $25M
- Ashgrove Specialty Lending Fund II (private credit-direct lending): €60M (~$63M)
- Brandon Lane Partners Fund (private credit-middle market buyout): $70M
- Sixth Street Specialty Lending Europe III (private credit-direct lending): $100M
- Lone Star Real Estate Fund VII (real estate-opportunistic): $150M
- FPA Core Plus Fund VI (real estate-core plus): $50M
- RLIF Co-investment Fund II (real estate-co-investment): $50M
- Heitman Real Estate Debt Partners III (real estate-debt): $50M
- Realterm Airport Logistics Properties (real estate-value add): $21M
The Wisconsin pension board was earlier considering a reallocation in favor of its private markets portfolio, as reported by Dakota on October 14, with consultant NEPC recommending a decrease of its public equity target allocation from 40% to 38%, while private equity/debt would increase from 18% to 20%. Real estate maintains an 8% policy weight. The proposed benchmarks are also being recommended for the pension’s 2025 allocation structure.
As of September 30, the Wisconsin retirement system managed approximately $166B in total assets.
