Wis. Investment Board Makes Private Equity Commitments

February 13, 2012 (PLANSPONSOR.com) - The State of Wisconsin Investment Board, which manages $83 billion in pension funds, is making a number of private equity commitments.

The commitments, worth $291 million, were made in the fourth quarter, according to documents made available to Buyouts, peHUB’s sister magazine. Overall, Wisconsin oversees $13.6 billion in private equity commitments, including $5.5 billion in invested capital. The state has a private equity target of 6%, but plans to raise that to 7% by 2015, peHUB reports.  

The five commitments include a $100 million pledge to TPG Capital’s TPG Opportunities Partners II LP, a distressed debt vehicle with a $1.5 billion target. The fund focuses primarily on non-performing loans, distressed-for-control and special situations.  Wisconsin also committed $100 million to GSO Capital’s GSO Capital Opportunities Fund II LP, a mezzanine debt fund with a $3 billion target, sponsored by the leveraged finance arm of the The Blackstone Group.   

A third Wisconsin commitment was a $50 million pledge to TSG Consumer Partners’ TSG Consumer Partners VI Fund LP, a mid-market buyout fund with a $1.3 billion target. The consumer products buyout firm, which has invested in popular consumer firms like PopChips, closed late last year after just two months of fundraising.   

Wisconsin committed $30 million to Emergence Capital Partners’ Emergence Capital Partners III LP, a venture fund. The firm has invested in such notable companies as Salesforce and Doubleclick. In addition, Wisconsin made a $11 million commitment to Energy Capital Investments’ EnCap VIII Co-Investment Fund LP. The co-investment commitment follows a $45 million pledge by Wisconsin to the main fund, EnCap Energy Capital Fund VIII LP.