Rhode Island State Investment Commission, Providence, approved two new commitments totaling up to $75 million for the $10.5 billion Rhode Island Employees' Retirement System.
The commission at its Feb. 23 meeting approved commitments of up to $50 million to Atalaya Asset Income Fund Evergreen, a private credit fund managed by Atalaya Capital Management, and up to $25 million to AEW Essential Housing Fund, an open-end core real estate fund managed by AEW Capital Management, at its Feb. 23 meeting, said Benjamin Smith, spokesman for state Treasurer Seth Magaziner, who oversees the commission.
The commission previously committed up to $30 million to Atalaya Asset Income Fund V in 2021 and is also invested in open-end core real estate fund AEW Core Property Trust. The commission originally committed $35 million to the latter fund in 2010 and added another $25 million in 2013.
As of Jan. 31, the actual allocations to core real estate and private credit were 3.1% and 2.5%, respectively.