Rhode Island Employees' Retirement System, Providence, approved a total of $55 million in alternatives commitments, according to a recent monthly performance report.
The $11.7 billion pension fund committed up to $15 million to SROA Capital Fund IX as part of its noncore real estate portfolio; up to $30 million to Level Equity Growth Partners VI; as well as $10 million to Level Equity Opportunities Fund 2025.
SROA Capital Fund IX is a value-add real estate fund focused on acquiring self-storage properties.
The Level Equity funds are each private equity growth and expansion funds. Level Equity is a lower-middle-market growth equity investor and invests in software and technology companies.
The Rhode Island State Investment Commission approved the commitments at its meeting Oct. 2, according to the monthly investment report.
As of Sept. 30, the pension fund had an actual allocation of 16.7% to private equity, well above its 12.5% target allocation; and a 2.2% actual allocation to noncore real estate, slightly below its 2.5% target, according to the report.
The commission could not be immediately reached for further details.
