Rhode Island Considers $82M in Credit, Real Estate Investments

The Rhode Island State Pension (RISP) is mulling over potential commitments to two funds in private credit and real estate representing a total investment of $82M. 

According to recently published materials related to RISP’s December 4 board meeting, staff is recommending an allocation of up to $55M to middle-market direct lending strategy Antares Senior Loan Fund III and up to $27M to core-plus real estate vehicle CBRE US Logistic Partners. 

Both amounts are a combination of commitments from the state pension’s Employees Retirement Systems Pooled Trust (ERSRI) and the OPEB System Trust: ERSRI accounts for the larger portion of the recommended allocations, $50M to the Antares fund and $25M to the CBRE fund; while OPEB accounts for the remaining $5M and $2M commitments to the funds, respectively. Per the latest Dakota data, RISP oversees plan assets valued at $11B in total.