Rhode Island commits to European buyout fund

Rhode Island State Investment Commission, Providence, committed €35 million ($39.3 million) to a European buyout fund, said Evan England, spokesman for state Treasurer Seth Magaziner, who oversees the commission.

At its Wednesday meeting, the investment commission approved the commitment to CVC Capital Partners Fund VII. The state’s pension fund has invested in four funds with CVC.

The commitment is subject to contract negotiations.

The commission manages the assets of the $7.8 billion Rhode Island Employees' Retirement System, Providence.