RIST approves $50m commitment

The US public pension has backed a North American private equity fund.

Institution: Rhode Island State Treasury
Headquarters: Providence, United States
AUM: $8.3 billion
Allocation to alternatives: 20%

Rhode Island State Treasury has agreed to commit $50 million to Owl Rock Capital Corp III, according to the pension’s June 2020 meeting minutes. The fund will make private direct loans in mid-market companies in the United States.

The $8.3 billion US public pension has a 7 percent target allocation to private equity that currently stands at 8.8 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the technology and life sciences sectors within the North America region.

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