Rhode Island State Investment Commission, Providence, approved two new alternative fund commitments totaling up to $75 million for the $9.9 billion Rhode Island Employees' Retirement System.
The commission at its Sept. 28 meeting approved commitments of up to $50 million to Homestead Capital USA Farmland Fund IV and up to $25 million to Raith Real Estate Fund III, a real estate debt fund managed by Raith Capital Partners, spokeswoman Courtney Carter-DeJesus said in an email.
The commission previously committed $35 million to Homestead Capital USA Farmland Fund III in 2018 and up to $35 million to Raith Real Estate Fund II in 2019
As of Sept. 30, the pension fund's actual allocations to core real estate and private real assets (ex-real estate) were 3.9% and 3.6%, respectively; each has a target of 4%.
