Searches and Hires

Rhode Island slates $75 million for growth equity, farmland funds

Rhode Island State Investment Commission, Providence, approved three new commitments totaling $75 million, said Evan England, spokesman for state Treasurer Seth Magaziner, who oversees the commission.

The commission approved commitments of $35 million to Level Equity Growth Partners IV and $15 million to Level Equity Opportunities Fund 2018, both growth equity funds, and $25 million to Homestead Capital USA Farmland Fund III.

Both commitments are the first times the commission has invested with Level Equity and Homestead Capital.

The investment commission manages the assets of the $8.3 billion Rhode Island Employees' Retirement System, Providence. As of June 30, the actual allocations to private equity and private infrastructure were 6% and 1.7%, respectively. Their respective targets are 11% and 2%.