The Rhode Island State Pension has committed up to $50 million to four private equity funds, according to recently released meeting minutes from the February 28 board meeting.
Up to $15 million was allocated to three venture capital funds, managed by GGV Capital. Up to $6.4 million was allocated to GGV Capital IX. Up to $1.6 million was allocated to GGV Capital Plus. Up to $7 million was allocated to GGV Capital Discovery IV-US.
In addition, up to $35 million was allocated to the growth equity fund, Parthenon Investors VII.
As of February 28, 2023, the $10 billion pension fund’s private equity exposure represented 16.6% of the total fund.
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