WSIB Deploys $1.8B Across Private Equity, Credit with Repeat Managers

The Washington State Investment Board allocated more than $1.8 billion across private equity and credit strategies in April, reinforcing its long-standing strategy of scaling commitments with established managers.

The $174 billion pension maintains significant exposure to private markets, with $101 billion allocated across private equity, real estate, innovation and risk programs, and tangible assets. Private equity remains the largest segment at over $52 billion.

The largest allocation went to Evergreen Park Investment Fund, managed by Fisher Lynch Capital, with a $900 million follow-on commitment after a $1 billion investment in 2025. “This follow-on reflects the strength of our long-term partnerships and conviction in proven managers,” the board noted in its materials.

WSIB also committed up to $105 million to Fisher Lynch’s co-investment vehicle, targeting high-conviction opportunities alongside the flagship fund.

In Europe, the pension allocated €150 million ($177 million) to Charterhouse Capital Partners XII, extending a relationship that dates back to 1997. Venture exposure was expanded through a $100 million commitment to Spark Capital IX and Growth VI, while General Catalyst received $200 million across two early-stage funds.

On the credit side, WSIB committed up to $300 million to Monarch Alternative Capital VII through its Innovation Portfolio, targeting distressed and opportunistic strategies.