Institution: South Carolina Retirement System
Headquarters: Columbia, United States
AUM: $35.61 billion
Allocation to alternatives: 16.1%
South Carolina Retirement System has made $115 million in commitments across two private debt funds, according to minutes from the pension’s recent commission meeting. SCRS committed $40 million to ASI Hark Capital III and $75 million to Ares Pathfinder Fund.
ASI Hark Capital III, which is managed by Aberdeen Standard Investments, will invest into North American companies. Ares Pathfinder Fund, which closed in March on $3.7 billion, will target both North American and Western European companies.
The $35.61 billion US public pension has a 7 percent current and target allocation to private debt.
As illustrated below, SCRS’s private debt fund commitments tend to focus on North American vehicles with senior debt strategies.