South Carolina Retirement System Investment Commission, Columbia, committed up to $355 million to five private equity funds and a private debt fund for the $35.6 billion South Carolina Retirement Systems' investment portfolio, according to board documents.
The board disclosed the commitments, which were made December through February, at its meeting Thursday, including a $100 million commitment to Aberdeen Standard U.S. Private Equity IX, a private equity fund of funds managed by Aberdeen Standard Investments.
It also committed $100 million to KKR Asian Fund IV, an Asian-focused buyout fund targeting middle-market and large-cap companies managed by KKR & Co.; $50 million to Mill Point Capital Partners II, a buyout fund that targets control investments in lower middle-market companies in North America in the industrial, business services and information-technology services sectors; up to $50 million to buyout fund Peak Rock Capital Credit Fund III; and $30 million to Hillhouse Capital Group's Focused Growth Fund V that focuses on investment opportunities in southeast Asia.
Moreover, the RSIC committed $25 million to GoldenTree Structured Products Fund VII, which board documents indicate is a private debt fund managed by GoldenTree Asset Management.
The RSIC manages the assets of South Carolina's state pension funds on behalf of the South Carolina Public Employee Benefit Authority, Columbia.