Rhode Island State Investment Commission, Providence, committed up to $110 million total to three private equity funds and terminated a $60 million hedge fund investment, said Andrew Roos, chief of staff for Rhode Island Treasurer Seth Magaziner, who oversees the commission.
The commission voted to commit up to $30 million to the EnCap Energy Capital Fund X, an oil and gas fund managed by EnCap Investments; $30 million to Paine & Partners Capital Fund IV, an agribusiness fund; and $50 million to the ISQ Global Infrastructure Fund, managed by I Squared Capital.
It previously had committed $18 million to the EnCap Energy Capital Fund IX.
In addition, the commission decided to redeem a $60 million investment with hedge fund Mason Capital Management rather than commit to another year. Mr. Roos said in an e-mail that the redemption was due to “liquidity constraints” of the hedge fund.
The state investment commission manages the Providence-based $8.5 billion Rhode Island Employees' Retirement System.