RISP to Invest $129M in Private Credit, PE, RE Strategies

The investment commission of the Rhode Island State Pension has moved to approve $129M in commitments to five funds across private credit, private equity growth, and real estate debt strategies, according to documents related to discussions held between June and October.

According to recently published minutes from the commission’s June 26 meeting, the state treasury committed $52M to private credit strategy TPG AG Credit Solutions Fund III and $20.6M to non-core real estate strategy Belveron Partners Fund VII.

Materials related to its more recent October 2 meeting also disclosed that the state treasury is considering a commitment of up to $15.45M to another non-core real estate strategy SROA Capital Fund IX, and up to $30.75M and $10.25M to private equity growth vehicles Level Equity Growth Partners VI and Level Equity Opportunities Fund 2025, respectively.

As of August 31, RISP allocations in private growth are valued at $2.2B, private equity at $1.9B, private credit at $364M, and real estate at $257M, accounting for a combined 41.27% of the portfolio.

Written By: Dakota

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