Wisconsin Pension Earmarks $585M to Alts Strategies

The State of Wisconsin Investment Board (SWIB), which manages about $149 billion in assets, has announced several new alternative asset fund commitments.

Sterling Group has received $135 million for its sixth flagship private equity fund, which reached a $3.5 billion final close in April, nearly doubling the amount raised for its preceding strategy.

UK-based Inflexion obtained £50 million for its third Partnership Capital Fund, according to documentation from SWIB’s most recent board meeting. That vehicle closed on £1.75 billion of commitments in March.

Rubicon, a healthcare investor, raised $62 million for its sophomore fund, which closed in March with $1.18 billion in assets.

Carnelian, an energy investor, received $31 million from the pension board for its fifth Energy Capital Fund, which closed with a $975 million hard cap in February.

The LP has committed an additional $250 million to Audax Private Equity/Strategic Capital-SW, a tailored multi-strategy fund. The filings also show that it made a number of small co-investments totaling approximately $43 million.