Rhode Island State Funding Fee, Windfall, authorized one new supervisor rent and two various fund commitments totaling as much as $175 million for the $10.2 billion Rhode Island Public Workers’ Retirement System.
The fee at its April 27 assembly employed Introduction Capital Administration to run $100 million in a U.S.-focused long-only convertible bond technique, stated Benjamin Smith, spokesman for Rhode Island state Treasurer Seth Magaziner, who oversees the fee, in an electronic mail.
A funding supply was not offered.
The fee additionally authorized commitments of as much as $50 million to international buyout fund Introduction Worldwide GPE X and as much as $25 million to GEM Realty Fund VII, an opportunistic actual property fund managed by GEM Realty Capital.
As of March 31, the retirement system’s precise allocations to non-public fairness, liquid credit score and non-core actual property have been 14.7%, 2.9% and a couple of.2%, respectively.