The State of Wisconsin Investment Board completed the ongoing sale of several holdings in its Legacy Portfolio in August, according to November board meeting documents.
The Legacy Portfolio was created in June 1995 and consists of investments in public and private markets, with a concentration in private equity.
Its current market value is $150 million as of 30 September, down from $203 million as of 31 December 2013.
Wisconsin planned to sell 34 fund positions in the portfolio. In July it sold its stakes in 2000-vintage BC European Partners VII and 1999-vintage 3i Eurofund III to The Blackstone Group’s Strategic Partners.
It also sold its stake in Graphite Fund VI, a £375 million ($597 million; €479 million) 2003-vintage fund, to the Graphite Enterprise Trust, the fund of funds and direct investment arm of Graphite Capital.
Wisconsin retained its stake in 14 funds managed by Brinson Partners. Brinson was an asset manager acquired by the Swiss Bank Corporation in 1994. Swiss Bank merged with UBS in 1998 and the teams later consolidated to UBS Global Asset Management.
The Legacy Portfolio had generated one-year returns of -2.3 percent and ten-year returns of 14.4 percent, as of 30 September.
Wisconsin did not return a request for comment by press time.
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