Washington State Investment Board (WSIB) has proposed a $300m (€256.6m) commitment to Monarch Alternative Capital’s opportunity fund, which targets a diverse range of asset classes, including real estate and structured credit.
A final decision on the commitment to the Monarch Capital Partners VII is expected from the pension fund later this month.
WSIB previously backed the fund series with $200m in Partners V in 2020 and $150m in Partners VI in 2023.
According to materials provided to WSIB by Monarch Capital, the portfolio for Partners VII is expected to consist of 60% to 80% North American assets, 10% to 30% in Europe and up to 10% across the rest of the world.
Real estate debt and equity are expected to comprise as much as 15% of the fund.
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