Update: Washington commits $400m to tangible assets, considers $150m more
The Washington State Investment Board has committed $400 million, divided between two commitments, to tangible assets, defined as non-financial assets having physical substance that are used in the production or supply of goods and services, and the board’s private markets committee voted to recommend that the board commit up to $150 million more to tangible assets in a third commitment.
The commitments and recommendation have been confirmed by Liz Mendizabal, institutional relations director with WSIB. The recommendation will be voted on for approval at the board’s June 19 meeting.
The larger commitment is to U.S. Farming Realty Trust III, managed by International Farming Corp. The board approved a $250 million commitment to the fund, which invests in U.S. farmland, primarily commodity row crops. Its predecessor, U.S. Farming Realty Trust II, launched in January 20