Opinion No. Oag 37-89, (1989)

KEITH JOHNSON, Acting General Counsel State of WisconsinInvestment Board

You ask two questions relating to the authority of the State of Wisconsin Investment Board (SWIB) to use nonrecourse debt in making real estate investments for the fixed retirement investment trust (fixed trust) of the Wisconsin Retirement System. In connection with your questions, you have advised that use of a partnership is not in issue in that section 620.22, Stats., incorporated in the SWIB grant of investment authority at section 25.17 (3)(a), allows investment "as a participant in a partnership." This opinion thus…