SCRS approves $52.50m commitment

The US public pension has backed a global buyout fund.

Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $31.98bn
Allocation to alternatives: 21.40%
Bitesize: $100-200m

South Carolina Retirement System has agreed to commit $52.50 million to Great Hill Equity Partners VII, according to a recent report on the pension’s website. The buyout fund will invest in North America, Latin America and across Europe.

This commitment marks the first time SCRS has invested in a fund managed by Great Hill Partners.

The $31.98 billion US public pension has a 7.30 percent target allocation to private equity that currently stands at 7.10 percent.

As illustrated in the charts below, the pension plan has committed to four 2019-vintage private equity vehicles, which combined constitute $702.50 million.

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