Investors - JUNE 20, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Washington state commits nearly $1b to real estate, energy and tangible assets

by Reg Clodfelter

At its June 19 board meeting, the Washington State Investment Board voted to commit $950 million, divided among four separate managers, to real estate, energy and tangible assets.

The commitment to real estate is a follow-on commitment of $500 million to Aevitas Property Partners. WSIB originally committed $250 million to the firm in April 2012 to invest in REOCs globally, but primarily in non-U.S. markets. Board documents from 2012 note that WSIB senior investment officer Steve Draper believed the commitment would mitigate concentration risk among the WSIB’s REOC intermediaries by adding the firm’s “niche-focused investing, ability and willingness to tackle distressed situations, and focus on different markets.” The documents also noted that WSIB liked Aevitas’ strong experience in Southern Europe, India and Turkey, areas that were underrepresented in WSIB&rs

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy