The Washington State Investment Board’s private markets committee recently approved up to $550 million in commitments to three private equity funds.
Specifically, the committee recommended a $250 million allocation to Providence Equity Partners VI, a $12 billion media and entertainment buyout fund. The committee also recommended an allocation of up to $100 million in Affinity Asia Pacific Fund III, a $2.5 billion fund that makes controlling equity investments in Pacific Rim countries. Both are new additions to Washington’s hefty p.e. portfolio.
The committee also voted on a $200 million allocation to Blackstone Capital Partners V.