Washington State Board sets up $150 million buyout fund commitment

Washington State Investment Board, Olympia, committed up to $150 million to Luminate Capital Partners III.

The board, which oversees $152.6 billion including $117.8 billion in defined benefit plan assets, approved the commitment to the software-focused middle-market buyout fund at its meeting Thursday, said Tish Day, spokeswoman.

As of Sept. 30, the board’s actual allocation to private equity was 22.4%.

The board’s investment staff also made a follow-on commitment of $500 million to Aevitas Property Partners, a real estate manager based in Amsterdam. This will be the sixth investment with Aevitas, following commitments of $250 million in 2012 and $500 million each in 2014, 2016, 2017 and 2019, respectively.

WSIB’s actual allocation to real estate was 17.7% as of Sept. 30.

Source: Pensions & Investments