Rhode Island State Investment Commission, Providence, approved a commitment of up to $50 million to HPS Specialty Loan Fund VI-L for the $10.3 billion Rhode Island Employees' Retirement System.
The commission approved the commitment to the private credit fund managed by HPS Investment Partners at its Jan. 25 meeting, recently released meeting minutes show.
The commission previously committed up to $50 million to HPS Specialty Loan Fund V-L in 2021.
As of Dec. 31, the pension fund's actual allocation to private credit was 3.1%; the target is 3%.
