State of Wisconsin Investment Board

State of Wisconsin Investment Board

Manages public funds through investment portfolio

About State of Wisconsin Investment Board

Simplify's Rating
Why State of Wisconsin Investment Board is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Government & Public Sector

Quantitative Finance

Financial Services

Company Size

N/A

Company Stage

N/A

Total Funding

N/A

Headquarters

Madison, Wisconsin

Founded

1951

Overview

SWIB manages and invests Wisconsin’s public employee retirement funds and other state assets for residents. It pursues long-term investments across stocks, bonds, real assets, and alternatives using internal research, risk controls, and external managers to build diversified portfolios and meet actuarial targets while controlling costs. As a state agency, it operates with fiduciary responsibility to public funds, emphasizing prudent stewardship, transparency, and long-horizon investing at scale. Its goal is to maximize long-term returns for Wisconsin’s public retirement systems while keeping risk and costs in check to ensure stable funding for beneficiaries.

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Simplify's Take

What believers are saying

  • Core Fund 8.5% one-year return and 7.2% five-year return exceed 6.8% target.
  • Increased private equity allocation to 20% captures higher-return alternative investments.
  • Fully funded $139 billion WRS with strong asset base supports long-term growth.

What critics are saying

  • 20% private equity exposure vulnerable to valuation markdowns from rising interest rates.
  • Legislative ESG divestment mandates force $5-10B climate fund exits, reducing returns.
  • 38% public equity concentration in Magnificent 7 risks 15-20% drawdown scenarios.

What makes State of Wisconsin Investment Board unique

  • Generated $15 billion above passive benchmark over 20 years through active management.
  • Diversified across public equities, private markets, real estate, and inflation-sensitive assets.
  • Added $4 billion above benchmark returns in five years ending December 2024.

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Benefits

Comprehensive benefits package

Educational and training opportunities

Tuition reimbursement

Hybrid work environment

Relocation Assistance

Professional Development Budget

Hybrid Work Options

Company News

PR Newswire
Nov 6th, 2025
Elephas Biosciences Raises $40M for Platform

Elephas Biosciences raised $40M in a Series B-2 funding round to accelerate the commercialization of its Elephas Live™ Platform, a live tumor profiling technology for predicting immunotherapy responses. The funding, supported by existing investors like Northpond Ventures and ARCH Venture Partners, will aid in launching the platform as a laboratory developed test in 2026. CEO Maneesh Arora highlighted the strong investor confidence and the company's progress towards improving cancer treatment.

PR Newswire
Jan 23rd, 2024
Elephas Announces $55 Million In Series C Funding

Company advancing novel live tumor imaging diagnostic platformMADISON, Wis., Jan. 23, 2024 /PRNewswire/ -- Elephas Biosciences Corporation (Elephas), a private company, announced today that it has raised $55 million in Series C funding. Venture Investors Health Fund and State of Wisconsin Investment Board (SWIB) led the round. Continuing investments were made by Northpond Ventures, ARCH Ventures, Sands Capital, Moore Strategic Ventures, Tao Invest, and WARF Ventures. With this $55 million Series C funding, this brings the total raised by Elephas to $116.5 million.Elephas is developing an oncology imaging diagnostics platform to predict response to immunotherapy using the latest advances in metabolic imaging. The platform utilizes live patient biopsies with intact native tumor architecture and treats them with potential therapies to predict response to treatment

PR Newswire
Dec 13th, 2022
HistoSonics Announces $100 Million in Financings and New Appointment to its Board of Directors

/PRNewswire/ -- HistoSonics, Inc. (www.histosonics.com), the developer of a non-invasive, novel sonic beam therapy, announced today that it has raised $85...

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