SWIB Approves $1.1B for Private Equity, Real Estate Vehicles

The State of Wisconsin Investment Board (SWIB) approved $1.1 billion in commitments to a slew of private equity and real estate vehicles.

SWIB committed $100 million to three private equity funds, including Ares Corporate Opportunities Fund VII and Audax Private Equity/Strategic Capital, a bespoke multi-strategy fund managed by Audax Group.

Lindsay Goldberg, a private equity firm that invests in middle-market firms via leveraged buyouts and growth financing, raised $100 million for its sixth flagship fund.

Blackstone earned $50 million from the $155 billion state board for its buyout-focused Fund IX.

Searchlight Capital Partners secured $75 million for its fourth flagship fund, which is seeking $4 billion to target buyout and special situations opportunities.

WSIB made several smaller commitments, including $65 million to GHK Capital Partners Fund II and $62 million to Utah-based buyout firm Tower Arch Capital for its third flagship fund.

Hellman Friedman Capital Partners XI, a large-cap buyout fund, received $50 million, together with $35 million from Turnspire Value Fund II and $30 million from Ballast Equity Partners. A $25 million commitment was made to Percheron Capital Fund II.

Real estate funds received significant commitments, with $175 million going to existing partner Wilson DWS Senior Finance. The manager received $300 million from the state board in 2021.

Heitman Real Estate Debt Partners III secured $100 million, while Exeter Core Industrial Club obtained $68 million. Up to $45 million was provided to FPA Multifamily Core Plus Fund III-A.