SCRS approves $150m commitment

The US public pension has backed two North American-focused private debt vehicles.

Institution: South Carolina Retirement System
Headquarters: Columbia, US
AUM: $32.49 billion
Allocation to alternatives: 28%

South Carolina Retirement System has confirmed $150 million in commitments to two private debt funds, according to minutes from its December 2020 investment commission meeting.

The commitments comprised $75 million each to Fortress Lending Fund II and Fortress COF V. Both funds are managed by Fortress Investment Group and will invest in North American markets.

The $32.49 billion US public pension has a 9 percent allocation to private debt. As illustrated, SCRS has made $825 million in commitments to private debt vehicles with vintage years between 2019-20.

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