South Carolina Retirement System Investment Commission, Columbia, committed a total of $150 million to three alternatives funds for the $47.1billion South Carolina Retirement Systems' investment portfolio, according to board documents.
The commission disclosed the commitments, which were made from October through December, at its Dec. 12 meeting.
The commission committed $50 million to D.E. Shaw Diopter Fund II, a private credit-focused fund primarily pursuing investments related to synthetic securitizations; $50 million to Eagle Point Defensive Income Fund III, a direct lending fund managed by Eagle Point Credit Management that invests in certain types of senior unsecured debt or preferred equity securities; and $50 million to buyout fund Unity Partners Fund I.
As of Sept. 30, the commission's actual allocation was 44.6% public equity (46% target), 25% bonds (26% target), 12.7% private equity (9% target), 10.5% real assets (12% target) and 7.2% private debt (7% target).
