The Washington State Investment Board announces $500m follow-on commitment to Partners Enterprise Capital

The Washington State Investment Board (WSIB) has approved a follow-on investment of $500 million in Partners Enterprise Capital (PEC) on behalf of its real estate portfolio.

PEC invests in real estate through entity-level ownership of real estate operating companies and has more than $16 billion in gross assets under management, according to the firm’s website. Working closely with the capital partner and management teams, PEC builds companies that buy, develop and operate in carefully selected major real estate markets.

PEC is now the WSIB’s largest real estate intermediary based on net asset value. The WSIB previously has committed $5.25 billion to PEC in 10 increments beginning in 1999.