The Washington State Public Employees’ Retirement System (PERS) provides retirement benefits to employees of state agencies, cities, counties, and other political subdivisions in Washington. PERS is the largest retirement plan within the Washington state system, with approximately $50 billion in dedicated assets. All investments are managed by the Washington State Investment Board (WSIB).
Investment Strategy
PERS assets benefit from WSIB’s sophisticated investment program. The combined WSIB portfolio exceeds $180 billion and is diversified across public equities, fixed income, private equity, real estate, tangible assets (timber and farmland), and innovation strategies.
WSIB’s alternatives program is one of the largest and most established among U.S. public pension funds. Private equity investments span buyout, growth, venture, and distressed strategies globally. Real estate includes direct investments and fund commitments. Tangible assets provide inflation protection through timber and agricultural land investments.
WSIB has been investing in private markets since the 1980s and has built deep relationships with top-tier GPs around the world.
How to Approach
GPs should contact WSIB directly in Olympia. WSIB manages all alternative investments for Washington state retirement plans. The team is large, experienced, and highly selective. Competition for WSIB capital is strong, so GPs should present a genuinely differentiated strategy with strong performance evidence and competitive terms.
Frequently Asked Questions
How are Washington PERS assets invested?
Washington PERS assets are invested by the Washington State Investment Board (WSIB), which manages total assets exceeding $180 billion across all state retirement plans. WSIB allocates approximately 20% to alternatives including private equity, real estate, and tangible assets.
What is WSIB?
The Washington State Investment Board is one of the most respected public pension investment organizations in the world. WSIB manages assets for PERS and other state retirement plans with a large internal team and deep private markets expertise.
How can GPs access Washington PERS capital?
GPs should engage with WSIB directly in Olympia. WSIB manages alternatives for all Washington state retirement plans, so a single relationship covers PERS and other systems. WSIB is highly selective and evaluates managers based on performance, differentiation, and alignment of interests.
