Insight

Minnesota SBI approves $1.05bn in commitments

The organisation has backed four private equity funds in its first round of commitments in 2021.

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Institution: Minnesota State Board of Investment
Headquarters: St Paul, United States
AUM: $82.14 billion
Allocation to alternatives: 15.8%

Minnesota State Board of Investment committed $1.05 billion across four private equity vehicles, as mentioned during its February 2021 investment board meeting. These commitments were made to the institution’s existing managers.

The commitments comprised $300 million to Adams Street Global Secondary Fund 7, Hellman & Friedman Capital Partners X, KKR North America Fund XIII and $150 million to Thomas H. Lee Equity Partners IX.

MSBI also approved Albourne Partners as its private market consultant.

As illustrated below, Minnesota SBI allocates 9.5 percent of its full investment portfolio to private equity. Its recent commitments to private equity have employed a wide range of strategies across multiple sectors.

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