WSIB approves two large private‑equity commitments amid plan reallocation

The Washington State Investment Board approved two private‑equity commitments after committee recommendations: an up‑to‑$650 million commitment to GTCR 15 LP (a U.S. large‑cap buyout fund) and an up‑to‑$300 million commitment to Clayton, Dubilier & Rice 13 LP (a large buyout fund focused on control‑oriented transactions).

"This commitment to GTCR 15 should be viewed as a reallocation from 2027 to 2026 to only partially offset the current year shortfall," Joel Sachs said when presenting the private markets committee's recommendation. Committee members explained the GTCR strategy targets business transformations using experienced management partnerships.

Both motions were moved, seconded and adopted by voice vote. Each commitment was described as "subject to continuing due diligence and final negotiation of terms and conditions." Board members noted that both investments fall into an "unidentified allocation" within the board’s 2026 private‑equity annual plan and that staff will finalize terms and funding timing.