Rhode Island State Pension Commits $35M to Alts

The Rhode Island State Pension has approved two alternative investments totaling up to $35 million.

$15 million was committed to venture capital fund, TCG Crossover Fund II. 

In real estate, $20 million was approved for the Berkeley Partners Value Industrial Fund VI.

Cliffwater and Meketa assisted with the investments. 

As of May 31, 2023, the $10 billion pension plan has an actual and target allocation to private equity of 16.66% and 12.5% respectively. The actual and target allocation to non-core real estate is 2.2% and 2.5% respectively.

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