New allocation adds to WSIB’s already outsized allocation to these assets, which has helped cushion it amid equity market turbulence.
Allyson Tucker will replace Gary Bruebaker, who served as CIO since 2001.
Washington State pension CIO to talk career highlights and challenges, advice from CalSTRS chief Chris Ailman.
After 18 years at the Washington State Investment Board, Bruebaker is trading building good investment returns for other passions such as water sports and vintage cars.
The latest commitments are part of efforts by the system’s investment staff to maintain a large percentage of plan assets in private markets.
The new commitments are part of the plan to keep private market investments to around 40% of the fund.
The majority of the $700 million commitment deployed as part of a network of real estate organizations controlled by the pension plan.
The returns beat pension system peers and are the result of the investment organization’s large commitment to private market investments.
Majority of commitments go to two private equity funds.