Washington State Investment Board approved $450 million in private equity commitments at its meeting on Nov. 22.
Washington will commit $200 million to Insight Partners XI, LP, being raised by Insight Partners with a $7.25 billion target, according to sister publication Private Equity International. The fund will make equity investments of between $10 million and $150 million and target between 65 and 75 investments. On its website, the firm bills itself as “software experts who invest in growth.”
The system also committed $250 million to Madison Dearborn Capital Partners VIII, a mid-market buyout fund with a $4.5 billion target, as Buyouts has reported.
Both these investments cleared a lower committee last week, as Buyouts reported. They are subject to continuing due diligence and final negotiation of terms and commitments, Washington said.
Washington also announced Thursday that Allyson Tucker would take over from the retiring Gary Bruebaker, as Buyouts reported.
As of Sept. 30, Washington had $141.8 billion in assets under management. Just under $24 billion of that was in private equity.
Action Item: Read the most recent report on Washington’s private equity program here.
Correction: An early version of this article gave the wrong first name for the retiring Washington chief investment officer. The article has been updated.
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