South Carolina Retirement System Investment Commission, Columbia, increased the allocations to two of the $26 billion system's strategic investment partners, Robert Feinstein, chief operating officer, confirmed in an e-mail.
Avenue Capital Management's commitment was increased by up to $250 million; the alternatives manager already oversees $250 million.
Also, hedge fund manager D.E. Shaw received a $750 million commitment. The new commitment includes and consolidates two existing commitments to D.E. Shaw that totaled $450 million, Mr. Feinstein said.
Separately, the commission extended the contract for investment consultant NEPC for one year, ending June 30, 2012. Mr. Feinstein said in his e-mail message that a decision hasn't been made yet about whether to issue an RFP for a new consultant.