Rhode Island State Investment Commission, Providence, approved a private equity commitment of up to £30 million ($38 million) to PSC V for the $10.7 billion Rhode Island Employees' Retirement System.
PSC V is a buyout fund managed by Pollen Street Capital that targets financial services companies primarily in the U.K. and Europe in five subsegments: lending, payments, wealth and asset management, insurance and technology-enabled services, according to the recently released minutes of the commission's July 26 meeting,
The commission previously committed $50 million to PSC IV in December 2019.
As of July 31, the pension fund had a 16.3% allocation to private equity.
