Institution: South Carolina Retirement System
Headquarters: Columbia, US
AUM: $39.2 billion
Allocation to alternatives: 17.7%
South Carolina Retirement System has made $420 million in commitments across six private equity funds, according to minutes from the pension’s September commission meeting.
In June, SCRS committed $50 million to Industry Ventures’ sixth fund, Industry Ventures Partnership Holdings VI. In July, the pension committed $75 million to WestCap Strategic Operator Fund II, $55 million to Eagle Point Defensive Income Fund, $50 to Horsely Bridge XIV and $40 million to Horsely Bridge XIV +.
A further commitment of $150 million was made to Owl Rock First Lien Fund II in August.
The $39.2 billion pension also showcased its rebalanced portfolio and increased its private equity allocation. Previously, it had an 8.4 percent target and current allocation to private equity in March 2021 and this increased to 9.6 percent as of June 2021.
SCRS’s private equity fund commitments tend to focus on global vehicles with diversified strategies and sector focus.
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