Rhode Island State Pension Commits up to $50M to Private Equity

The Rhode Island State Pension has committed up to $50 million to four private equity funds, according to recently released meeting minutes from  the February 28 board meeting. 

Up to $15 million was allocated to three venture capital funds,  managed by GGV Capital. Up to $6.4 million was allocated to GGV Capital IX. Up to $1.6 million was allocated to GGV Capital Plus. Up to $7 million was allocated to GGV Capital Discovery IV-US. 

In addition, up to $35 million was allocated to the growth equity fund, Parthenon Investors VII. 

As of February 28, 2023, the $10 billion pension fund’s private equity exposure represented 16.6% of the total fund.

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