Rhode Island State Treasury takes interest in the secondaries market

The US public pension has acquired a limited partnership interest on the secondaries market.

Institution: Rhode Island State Treasury
Headquarters: Providence, US
AUM: $10.3 billion
Allocation to alternatives: 20.2%

Rhode Island State Treasury Board has authorized the purchase of a limited partnership interest in Virgo Investment Group‘s speciality finance fund on the secondary market, affiliate title Private Equity International reported.

The treasury board also has allocated $50 million commitments to both Riverside Micro-Cap Fund VI and HPS Specialty Loan Fund V. Launched in April 2021, the sixth fund by The Riverside Company is currently in market seeking $1.5 billion in capital commitments.

The $10.3 billion pension fund has a target allocation of 12.5 percent to private equity investment, which now stands at 10.4 percent.

The recent fund commitments made by the Rhode Island State Treasury have predominantly targeted growth equity and buyout strategies in North America.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.