The Washington State Investment Board has committed up to $1.9 billion in new infrastructure, private equity, and real estate investments. The board oversees pension as well as other state assets. They have had an outsized commitment to private investment for several years.

Washington State Investment Board Allocations

Washington only has about 33% of its portfolio in public equity. This has helped them avoid some of the extreme volatility experienced by other pension funds that have an average allocation to public equities of 50% or more. While their total assets have declined some this year, the drop is far less than the average pension system across the United States.

The 219-2020 investment plan calls for the fund to continue favoring private over public investments.

$700 million is going into tangible assets with one fund, Stonepeak Infrastructure Fund IV. Stonepeak invests in critical infrastructure, including energy, power, and renewables, transportation, utilities, water, and communications assets. Washington’s board has a prior relationship with Stonepeak and has a separately managed account as well as investment in the firm’s three prior funds.

Washington Investment board is also investing $300 million to Francisco Partners VI. Francisco Partners, specializes in investments in technology and technology-enabled businesses.

Finally, the board announced that investment staff made a new $700 million investment with Crane Capital. Crane is based in Hong Kong and is owned by the Washington State Investment Board. Crane invests in high-quality real estate opportunities in Asia’s leading cities on behave of the board.

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