Rhode Island Pension Commits $50M to Direct Lending

The Rhode Island State Investment Commission will commit $50 million to HPS Specialty Loan Fund VI.

The commitment to the private credit fund was disclosed in materials from the January 25 board meeting.

The pacing plan for 2023 calls for $100 million between 2-4 primary funds.

Investment consultant, Cliffwater, assisted with the recommendation.

As of December 31, 2022, the Employees Retirement Systems targets a 3% allocation to Private Credit while they currently allocate 3.4% to the asset class.

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