Rhode Island State Treasury approves $60m commitment

The US public pension has backed Advent's 11th buyout fund.

Institution: Rhode Island State Treasury
Headquarters: Providence, United States
AUM: $8.11bn
Allocation to alternatives: 17.90%
Bitesize: $10-50m

Rhode Island State Treasury has agreed to commit $60 million to Advent International GPE IX, according to the pension’s March board meeting documents. The fund will target control-oriented buyouts and recapitalisation in North America and Europe.

The $8.11 billion US public pension has a 7.0 percent target allocation to private equity which currently stands at 6.50 percent.

Rhode Island State Treasury has made ten commitments to private equity funds with a 2018 and 2019 vintage, which combined constitute $395 million.

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