South Carolina allocates up to $531 million to private markets

South Carolina Retirement System Investment Commission, Columbia, committed up to $531 million to five private equity funds and a private credit fund for the $28.2 billion South Carolina Retirement Systems’ investment portfolio, according to board documents.

At its meeting June 4, the board disclosed a commitment of up to €100 million ($113 million) to CVC Capital Partners Fund VIII, a European buyout fund. It also committed up to $100 million to Francisco Partners Fund VI and up to $50 million to Francisco Partners Agility II, each buyout funds; up to £75 million ($93 million) to Bridgepoint Development Capital IV, a European middle-market buyout fund managed by Bridgepoint Capital; and $75 million to buyout fund Clayton Dubilier & Rice XI.

Lastly, the board committed up to $100 million to Eagle Point Credit Partners, a private fund focused on primary and secondary collateralized loan obligation equity securities managed by Eagle Point Credit Management.

The RSIC manages the assets of South Carolina’s state pension funds on behalf of the South Carolina Public Employee Benefit Authority, Columbia.

Source: pionline

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