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South Carolina Retirement System bolsters private equity portfolio

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

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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.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.