Washington State Investment Board inducted into Private Equity Hall of Fame (September 23, 2003) Olympia - The Washington State Investment Board today became one of the first public institutional investors to be inducted into the "Private Equity Hall of Fame," awarded each year by Private Equity Analyst newsletter. The WSIB was selected because of its long-term commitment to investments in private equity, which have generated $3.8 billion in profits for the beneficiaries of pension fund investments managed by the WSIB. The award was presented to WSIB Executive Director Joe Dear today during the Private Equity Analyst Conference, in New York. "This award is a tribute to several visionary founders and partners of the WSIB, most especially the WSIB's first executive director, John Hitchman; former board members Bob Hollister and Bob Nathane; and private equity partners George Roberts and Henry Kravis of Kohlberg Kravis Roberts & Co., DuBose Montgomery, of Menlo Ventures, and Brooks Zug, of HarbourVest Partners," said Dear. "All of the members of the retirement plans whose investments are managed by WSIB are beneficiaries of their wisdom, courage, and good judgment." Hall of Fame award winners are selected in consultation with industry veterans to recognize individuals and organizations that have made exemplary and enduring contributions to the private equity asset class. In addition to its long-standing private equity commitment, the WSIB was cited for being one of the first public pension funds to actively embrace private equity and other related investments including venture capital and real estate. The WSIB made its first private equity investment in 1981, long before most institutions were even aware that such opportunities existed. With a target allocation of 17 percent, private equity currently accounts for 14 percent of the state’s retirement fund portfolio, which makes it one of the largest among peer institutional investors. Other 2003 inductees into the Private Equity Hall of Fame are: Buyout Category: Bain Capital; Venture Capital Category: Paul J. Ferri, Matrix Partners; Institutional Investor & Advisor Category: Oregon State Treasury; Industry Contributor: Richard J. Testa, founding partner Testa, Hurwitz & Thibeault, LLP.