SCRS approves $75m commitment

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

Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $31.09bn
Allocation to alternatives: 19.90%
Bitesize: $100-200m

South Carolina Retirement System (SCRS) has agreed to commit $75 million to Providence Strategic Growth IV, according to a recent report from the pension’s website. The growth equity fund invests primarily in mid-market software and technology-enabled service companies.

The $31.09 billion US public pension has a 7.0 percent current and target allocation to private equity.

As illustrated below, SCRS has made five commitments to private equity funds with a 2018 vintage, which combined constitute $575 million.

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