Rhode Island Commits $62M to Private Equity

The Rhode Island State Pension approved two commitments to private equity totalling $62 million.

A $31 million commitment was approved for Industry Ventures Partnership Holdings VII (IVPH VII), an early stage venture capital strategy within private equity. The Retirement System has previously invested in Venture Partnership Holdings funds.

An additional $31 million was allocated to Tenex Capital Partners Fund IV (Tenex IV). This investment extends a preexisting relationship between the two.

As of February 29, 2024, the Rhode Island Employees Retirement System allocated 16.6% to private equity with a target allocation of 12.5%.

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