Wisconsin has a private equity portfolio to sell


The State of Wisconsin Investment Board oversees a legacy private equity portfolio that was valued at about $203 million as of Dec. 31 that it is looking to sell off, according to public documents from the pension system.

It was not clear exactly what is in the legacy portfolio, though it includes 48 funds, including 14 funds from Brinson Partners the system does not want to sell off, according to the documents. (Asset manager Brinson Partners is now owned by UBS.)

The legacy portfolio’s net asset value as of Dec. 31, 2006, was $900 million, so the system has gradually been selling it off. However, the public documents reveal the 2014 plan for the legacy portfolio is to sell all of the funds, except the Brinson Partners funds.

Vicki Hearing, a spokeswoman for the State of Wisconsin Investment Board, did not respond to a request for comment Wednesday.

The Wisconsin system, which has about $100 billion in total assets, is targeting $1.2 billion in new private equity commitments this year, the documents said. That amount will include a “large number” of re-ups, some new funds on a “very selective basis” in the small and middle market. The 2014 plan also includes discontinuing “a number” of existing relationships, the documents said.

Wisconsin also plans to make its first commitment to a Brazil fund this year, and it plans to invest $100 million in three to five co-investment deals, of $10 million to $40 million each, the documents said.

Photo courtesy of Shutterstock.

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