Rhode Island Invests $30M to Private Equity

The Rhode Island Employees Retirement Systems Pooled Trust (ERSRI) approved two commitments to Shamrock Capital funds totalling $30 million.

A $20 million commitment was approved for Shamrock Capital Growth Fund VI.

An additional $10 million was allocated to Shamrock Capital Clover Fund I.

Both investment funds will target companies in media, entertainment, and communications companies within North America. Each fund will target 12 to 15 portfolio companies within the lower middle market and lower market. SCGF VI will target the lower middle market with equity investments of $45m to $500m+ per deal. Clover I will target the lower middle market with deal sizes from $20m to $45m.

ERSRI has an ongoing relationship with Shamrock Capital, previously investing in four of their funds.

As of March 31, 2024, the Retirement System allocates 16.5% to private equity and has a target allocation of 12.5%.

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