Wisconsin Investment Board Commits Over $3.8B to Various Strategies

The State of Wisconsin Investment Board revealed about $3.8 billion in allocations to alpha strategies, including hedge funds, from July through September of this year.

The $143 billion system invested over $800 million in private equity, private debt and real estate, according to board meeting documents from the recent board of trustees meeting.

Most moves were with Wellington GRE X, which received $2.4 billion, and Dodge and Cox, which saw a commitment of $1.2 billion. The other commitments were to: I-94 Partners Fund ($25 million), Reflow ($75 million), Fourl World Zilte ($25 million) and Aquatic ($50 million).

In private equity, a variety of fund commitments were made, along with $164 million across nine co-investment opportunities alongside undisclosed investment managers.

Industrial and technology sector plays dominated the moves made in the third quarter. As the market has been challenging when it comes to dealmaking and exits, co-investments have remained popular with institutional investors.

The private equity funds selected were Alchemy Special Opportunities Fund V ($64 million), Brandon Lane Partners – Series C ($200 million), Clairvest Equity Partners VII ($65 million), PSG VI ($100 million), Telescope Partners III ($27.5 million), The Resolute Fund VI ($125 million) and VIA Equity V ($28 million).

In private debt, the fund made a number of direct deals totaling $77 million, including investment management, utilities and a real estate holding company.

In real estate, the system made four commitments in the third quarter. The funds selected were Wilson Blue Moon I ($15 million), SRP Data Center Fund I ($50 million), Stream Data Center Fund I Co-Invest ($50 million) and Berkshire Bridge Loan Investors-MF1 III ($100 million).