SCRS approves $25m commitment

The US public pension has committed to a North American senior debt fund.

Institution: South Carolina Retirement System
Headquarters:
 Columbia, United States
AUM:
 $35.61 billion
Allocation to private equity:
 8.5%

South Carolina Retirement System has confirmed a $25 million commitment to GoldenTree Structured Products Fund VII, according to minutes from the pension’s recent commission meeting.

The senior debt fund is managed by GoldenTree Asset Management and is targeting $900 million to invest in North American companies. This is the second known commitment that SCRS has made to a GoldenTree-managed fund; it committed $75 million to GoldenTree Loan Management II in October 2019.

The $35.61 billion US public pension has a 8.5 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.

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