South Carolina Retirement Commits $255M to Private Credit, Private Equity

The South Carolina Retirement System (RSIC) has disclosed five new investments totaling up to $255 million according to meeting materials from the March 2 board meeting.

In private credit, $75 million was committed to GoldenTree Loan Management III. In addition, $50 million was committed to Fortress Lending Fund III.

Within private equity, $50 million was committed to the buyout fund, Gemspring Capital Fund III. Up to $30 million was committed to the buyout fund, Hg Mercury 4. Lastly, up to $50 million was committed to the buyout fund, Alpine Investors IX.

As of December 31, 2022, the $38 billion pension fund allocates 9.7% to private debt and 15.4% to private equity. The target allocations for private debt and private equity are 7% and 9% respectively.

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