South Carolina Retirement System Investment Commission, Columbia, disclosed commitments to six alternatives funds and an investment in an emerging markets equity strategy totaling roughly $1.2 billion for the $31.3 billion South Carolina Retirement Systems, spokeswoman LaJoia Broughton confirmed in an email.
Chief Investment Officer Geoffrey Berg reported to the commission the closing of the following the investments:
- $215 million to KKR Lending Partners III, a private credit fund managed by KKR & Co.
- $200 million to Owl Rock First Lien Fund, a private credit fund managed by Owl Rock Capital Partners.
- $150 million to Brookfield Capital Partners V, a real assets-focused buyout fund managed by Brookfield Asset Management.
- $150 million to buyout fund Providence Equity Partners VIII.
- $100 million to opportunistic real estate fund Brookfield Strategic Real Estate Partners III.
- $60 million to large-cap buyout fund Hellman & Friedman Capital Partners IX.
Mr. Berg also disclosed to the RSIC an investment of up to 1% of plan assets, or roughly $313 million, to an emerging markets small-cap equity strategy run by Man Numeric.
These investments were closed on between June and November, according to investment reports from the commission released Thursday.
In October 2017, the RSIC granted the CIO a limited delegation of the final authority to invest, Ms. Broughton said. The commission's delegation policy requires the CIO and the investment team to report to the commission regarding any delegated investment that is closed at the next regularly scheduled commission meeting.
The RSIC manages the assets of South Carolina's state pension funds on behalf of the South Carolina Public Employee Benefit Authority, Columbia.