RIST approves $50m commitment

The US public pension has backed a North American private debt fund.

Institution: Rhode Island State Treasury
Headquarters: Providence, United States
AUM: $8.3 billion
Allocation to alternatives: 20%

Rhode Island State Treasury has agreed to commit $50 million to Owl Rock Capital Corp III, according to the pension’s June 2020 meeting minutes. The fund will seek to directly originate loans to US middle-market and upper middle-market companies.

The $8.3 billion US public pension has a 1.8 percent allocation to private debt.

As illustrated below, the pension fund’s recent commitments are to funds focused on the corporate sector within the North America region.

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