News & Analysis

Whitehorse receives commitment from Minnesota SBI

The state investment board has backed the preferred equity specialist's third fund.

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Institution: Minnesota State Board of Investment
Headquarters: St. Paul, US
Total AUM: $101.11bn
Allocation to Alternatives: 10.2%
Bitesize: $100m-200m

Minnesota State Board of Investment has committed $100 million to Whitehorse Liquidity Partners III, according to an announcement published on the state board’s website.

Toronto-based firm Whitehorse Liquidity Partners focuses on making preferred equity investments in private equity portfolios. Fund III has a target size of $1.5 billion and seeks investments with the potential to generate gross internal rates of return of 12 to 14 percent.

As illustrated in the charts below, Minnesota State Board of Investment has also committed to Blackstone Strategic Partners Fund VIII and Lexington Capital Partners IX, of 2019 and 2018 vintage respectively.

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