By Muskan Arora
The $44bn South Carolina Retirement System committed up to $305m
across private equity, private credit and real assets.
As per the recent meeting materials, the investments were
made between June and August, after which additional $140m were committed to
private equity and private credit sleeve.
RSIC allocates 13.1% to its PE portfolio against a benchmark
of 9%; 8.2% to its private credit portfolio against a benchmark of 7% and 10.9%
to its RA sleeve against a target of 12%, as of June 30.
Within its private equity sleeve, the system committed $165m
to three funds in June.
South Carolina committed $50m to Avesi Partners Fund II,
which is focused on healthcare and business services.
The second allocation was of $40m to Kingswood Capital
Opportunities III, a buyout fund focused on middle-market businesses with
operational improvement potential.
Last commitment of June of $75m was made to Mill Point
Capital Partners III, which focuses on control investments in
lower-middle-market companies in North America in industrial, business services
and informational-technology services.
Within the private credit, the system committed $40m to FP
Credit III, a senior debt strategy focusing on North American and Western
European firms.
Within the real assets, the system allocated up to $100m to Sculptor
Real Estate V, an opportunistic real estate fund, will focus on acquiring
alternative US assets such as gaming properties, hotels and senior housing.
