Rhode Island State Investment Commission, Providence, approved three new commitments totaling up to $120 million for the $10.3 billion Rhode Island Employees' Retirement System, said Benjamin Smith, spokesman for state Treasurer Seth Magaziner, who oversees the commission.
The commission at its Aug. 25 meeting approved commitments of up to $50 million to Baring Asia Private Equity Fund VIII, an Asia-Pacific buyout fund managed by Baring Private Equity Asia; up to $40 million to value-added real estate fund Crow Holdings Realty Partners IX; and up to $30 million to venture capital fund of funds Industry Ventures Partnership Holdings VI.
The commission previously committed $50 million to Baring Private Equity Asia Fund VII and $30 million to Industry Ventures Partnership Holdings V, both in 2018, and $25 million to Crow Holdings Retail Fund I in 2015.
As of July 31, the actual allocations to private equity and non-core real estate were 10.9% and 1.7%, respectively.
