Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $28.19 billion
Allocation to alternatives: 26.0%
South Carolina Retirement System approved $527 million-worth of private equity commitments across the months of April and May, according to materials from the pension’s June investment commission meeting.
The commitments included $150 million to a pair of vehicles managed by Francisco Partners. $100 million was allocated to Fund VI of the firm’s flagship buyout series, with $50 million allocated to the firm’s Agility Fund II.
Elsewhere, €100 million was committed to CVC Capital Partners VIII; $100 million was committed to Eagle Point Credit Partners; $75 million was committed to CD&R XI and £75 million ($92 million; €84 million) was committed to Bridgepoint Development Capital IV.
The $28.19 billion US public pension has a 7.80 percent current and target allocation to private equity.
As illustrated below, SCRS tends to favour commitments towards North American buyout vehicles.
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