Searches and Hires

Rhode Island commits $135 million to buyout, real estate funds

Rhode Island State Investment Commission, Providence, approved three new commitments totaling up to $135 million, Evan England, spokesman for state Treasurer Seth Magaziner, who oversees the commission, said in an email.

The commission approved commitments of up to $50 million each to buyout fund Nautic Partners IX and Siris Partners IV, a buyout fund managed by Siris Capital Group, and up to $35 million to Raith Real Estate II, a real estate fund managed by Raith Capital Partners.

The commission previously committed $20 million to Nautic Partners VIII in 2016 and had not previously made commitments to Raith and Siris.

As of Nov. 30, the actual allocations to private equity and real estate were 8.3% and 7.3%, respectively.

The investment commission manages the assets of the $8.1 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%.