Washington State Investment Board (WSIB) has approved $1bn (€847.4m) worth of commitments to a real estate fund managed by Evergreen Investments Advisor and an infrastructure strategy managed by I Squared Capital.
The $222.52bn pension fund disclosed in a board meeting summary that it made a $400m follow-on commitment to Evergreen Real Estate Partners, which invests in real estate operating companies around the world.
The Evergreen Real Estate Partners partnership’s portfolio currently comprises 14 investments across diverse sectors and geographies, including the Urbanest student housing platform in London; Pelican Self Storage, which holds self-storage in Copenhagen and North Zealand; CenterScape, which holds retail properties in Germany, Poland and the Czech Republic; and Raintree Partners, which holds multifamily and mixed-use properties in major US West Coast markets, with a focus on California.
WSIB made a $500m commitment to ISQ Global Infrastructure Fund IV and placed an additional $100m into the ISQ Co-Investment Fund to invest alongside the main fund.
As previously reported, I Squared Capital is seeking to raise $15bn for ISQ Global Infrastructure Fund IV to be used to build a diversified portfolio of 25 to 30 investments in middle-market and larger opportunistic assets.
WSIB’s commitments remain subject to the ongoing completion of due diligence and the successful negotiation of final terms and conditions.
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