Rhode Island State Investment Commission, Providence, committed $20 million to Nordic Capital Fund VIII, a buyout fund, according to recently released minutes of the Dec. 19 board meeting.
The State Investment Commission oversees the $7.5 billion Rhode Island Employees' Retirement System, Providence. It has invested in four prior Nordic Capital funds.
Separately, the investment commission approved a $50 million redemption of the Wexford Spectrum Fund, a global macro hedge fund managed by Wexford Capital. According to the minutes, Wexford requested a “side pocket and investments in private companies,” and the commission said “they are not fulfilling their mandate and role in the portfolio.”
Wexford was hired in November 2011. Charles Davidson, chairman and chief investment officer at Wexford, did not return a telephone call for comment by press time.
Joy Fox — spokeswoman for state Treasurer Gina Raimondo, who oversees the retirement system investments — did not return a telephone call or e-mail by press time for additional information.
