The Rhode Island State Pension has approved two alternative investments totaling up to $35 million.
$15 million was committed to venture capital fund, TCG Crossover Fund II.
In real estate, $20 million was approved for the Berkeley Partners Value Industrial Fund VI.
Cliffwater and Meketa assisted with the investments.
As of May 31, 2023, the $10 billion pension plan has an actual and target allocation to private equity of 16.66% and 12.5% respectively. The actual and target allocation to non-core real estate is 2.2% and 2.5% respectively.
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