Insight

Minnesota SBI approves $750m in commitments

The organization has backed four private equity vehicles in its second 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 $750 million across four private equity vehicles, according to its May 2021 investment board meeting. These commitments were made to the institution’s existing managers.

The commitments comprised $300 million to Blackstone Capital Partners Asia Fund II and $150 million each to KKR MSBI Partnership, TPG Tech Adjacencies II and TPG Growth V.

The KKR MSBI Partnership is designed for the Minnesota SBI to co-invest in specific investments made by KKR in which the organization is also a limited partner.

As illustrated below, Minnesota SBI allocates 9.5 percent of its 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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