Rhode Island State Treasury takes interest in the secondaries market

The US public pension buys a limited partnership interest on the secondaries market.

Institution: Rhode Island State Treasury
Headquarters: Providence, US
AUM: $10.3 billion
Allocation to alternatives: 20.2 percent

Rhode Island State Treasury Board has reported the authorisation of the purchase of a limited partnership interest in Virgo Investment Group‘s speciality finance fund on the secondaries market in its monthly board meeting notes.

The treasury board has also allocated $50 million commitments to each of Riverside Micro-Cap Fund VI and HPS Specialty Loan Fund V.

The $10.3 billion pension fund has a target allocation of 12.5 percent to private equity investment which stands at 10.4 percent.

The recent fund commitments made by the Rhode Island State Treasury have predominantly targeted venture capital and growth equity strategies in North America.

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