SCRS confirms $957m in commitments

Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $30.98 billion
Allocation to private equity: 7%

South Carolina Retirement System has confirmed $957 million-worth of commitments across nine private equity vehicles between April and August 2020, according to minutes from the pension’s September 2020 commission meeting.

The commitments confirmed in Q2 2020 comprised $100 million to Francisco Partners VI; $50 million to Francisco Partners Agility II; €100 million to CVC Capital Partners VIII; $75 million to Clayton, Dubilier & Rice Fund XI; $100 million to Eagle Point Credit Partners; and £75 million ($96 million; €81 million) to Bridgepoint Development Capital IV.

Private equity commitments approved by SCRS in Q3 2020 comprised $100 million to Silver Lake Partners VI; $200 million to Horsely Bridge Strategic Fund V; and €100 million to Nordic Capital X.

The $30.98 billion US public pension has a 7 percent current and target allocation to private equity.

As illustrated below, SCRS’s private equity fund commitments tend to focus on global vehicles with buyout or mezzanine strategies.

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