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Washington State invests $350m in private equity funds

25 Nov 2013

dollar4_sqThe Washington State Investment Board (WSIB) has committed $350m to private equity funds.

The commitments were approved as WSIB’s most recent board meeting on November 21, according to Private Equity International.

WSIB was due to consider commitments to three private equity funds, EIG Energy Fund XVI, TCV VIII and TPG Opportunities Partners III, according to the board meeting’s agenda.

The new commitments were approved two months after WSBI invested $700m in four vehicles including GTCR’s Fund XI, Denham Capital’s CPF VI Oil and Gas Co-investment Fund, Lime Rock Resources Fund III and GI Partners Fund IV.

EIG Energy’s latest vehicle was expected to close on its $6bn hard cap last week, according to a source with knowledge of the matter. The firm did not immediately respond to a request for comment.

Last month AltAssets reported that EIG had gathered commitments of $5.5bn for the fund, which was launched with a $4.25bn target early in 2013, less than two years after the firm closed its previous vehicle on $4bn.

Technology Crossover Ventures’ fund TCV VIII and TPG Opportunities Partners III are both targeting $2.5bn.

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