South Carolina Retirement System Investment Commission, Columbia, disclosed $257 million in alternatives commitments for the $38.2 billion South Carolina Retirement Systems' investment portfolio, according to documents from the commission's meeting Thursday.
In private equity, the commission made three commitments to buyout funds totaling roughly $132 million: $50 million to Gemspring Capital Fund III; up to $50 million to Alpine Investors IX; and up to €30 million ($32 million) to Hg Mercury 4, managed by HgCapital.
The commission also committed $75 million to GoldenTree Loan Management III, a private credit fund managed by GoldenTree Asset Management, and $50 million to Fortress Lending Fund III, a direct lending fund managed by Fortress Investment Group.
The commitments were made November through February.
As of Dec. 31, the system's private equity allocation was 15.4% and private debt, 9.7%.