The Washington State Investment Board (WSIB) has made a follow-on commitment of $750 million to Hong Kong–based real estate manager Crane Capital Partners.
In an April 16 investment advisory, WSIB said it previously made an initial $250 million commitment to Crane in February 2019, and also transferred $400 million of existing commitments from WSIB intermediary Evergreen Real Estate Partners.
This will be WSIB’s first follow-on commitment to the partnership.
Crane Capital is a long-term real estate investment company that invests in building real estate operating companies with its partners. The firm also invests in “necessity real estate,” according to its website.
