SCRS approves $400m in commitments

The US public pension has committed to three private equity vehicles.

Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $41.65 billion
Allocation to alternatives: 20.1%

South Carolina Retirement System has announced it made $400 million in commitments across three private equity funds between December 2021 and February 2022, according to minutes from the pension’s March commission meeting.

SCRS committed $50 million to Francisco Partners Agility III, $100 million to Francisco Partners VII and $250 million to Barings CMS.

The $41.65 billion pension fund also rebalanced its portfolio and increased its private equity allocation. Previously, it had an 11 percent allocation to private equity, but this has been increased to 12 percent as of December 2021.

As illustrated below, SCRS’s private equity fund commitments tend to focus on global vehicles with diversified strategies and sector focus.

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