Rhode Island State Investment Commission, Providence, committed up to $10 million to GCM Grosvenor Advance Fund for the $10.4 billion Rhode Island Employees' Retirement System.
The commission approved the commitment to the private equity fund of funds at its meeting Wednesday, said Benjamin Smith, spokesman for state Treasurer Seth Magaziner, who oversees the commission.
As of Sept. 30, the actual allocation to private equity was 12.6%
