Washington State commits $600m to Evergreen vehicle
The $111.8 billion Washington State Investment Board has committed $600 million to Evergreen Real Estate Partners. The commitment is subject to due diligence and final negotiation of terms and conditions.
Evergreen Real Estate Partners, managed by M3 Capital Partners, is a value-added real estate separate account that invests in real estate operating companies.
WSIB previously committed $500 million to the separate account in 2014 and has committed a total of $4.1 billion to Evergreen since 2004. WSIB has a target allocation to real estate of 15 percent, with an actual allocation of 18.6 percent.
In other news, WSIB has been investing in infrastructure funds, including commitments of