South Carolina Retirement System bolsters private equity portfolio

The US public pension has committed to five private equity vehicles.

Institution: South Carolina Retirement System
Headquarters: Columbia, US
AUM: $38.2 billion
Allocation to Private Equity: 15.4%

South Carolina Retirement System has committed $256.9 million across five private debt and equity funds, according to minutes from the pension’s March 2023 commission meeting.

The commitments comprised $50 million each to Fortress Lending Fund III, Gemspring Capital Fund III and Alpine Investors IX; $75 million to GoldenTree Loan Management III and €30 million to Hg Mercury 4. SCRS has been a long-term investor in Hg funds in particular, committing $46.8 million to Hg Saturn 3 in March 2022 and $50 million to Hg Genesis 10 in April 2022.

The $38.2 billion US public pension’s private equity fund commitments tend to focus on diversified global vehicles targeting buyout or debt returns.

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