Feb. 16 (Bloomberg) -- The Washington State Investment Board agreed to invest $400 million in an Asian private equity fund managed by KKR & Co.
The commitment follows a similar $400 million placement in a KKR Asian fund in 2007, according to Liz Mendizabal, a spokeswoman for the board.
Washington’s pension fund, with $80.4 billion in assets as of Dec. 31, invests public money for 17 retirement plans and 22 other state funds. It has about $15.2 billion invested in private equity and earned about 21 percent on the entire fund in the fiscal year that ended June 30.
--Editors: Ted Bunker, Mark Tannenbaum.
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