---
title: South Carolina Commits $250M to Alts
description: South Carolina Commits $250M to Alts
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---

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# South Carolina Commits $250M to Alts

**Written by: ** Jane Bailey, Marketing Associate 

![](https://dakotafunds.com/hubfs/Imported_Blog_Media/clint-patterson-0fZZbi0WIbo-unsplash%20(1).jpg)

According to meeting materials from the March 7th meeting, the South Carolina Retirement System has approved five investments to private equity and private credit, totaling $250 million. 

$40 million was allocated to Rubicon Fund II, a buyout strategy. The investment closed on February 9.

$50 million was allocated to Horsley Bridge Venture 15, an early-stage venture capital strategy. The investment closed on February 12.

On February 29, two private equity investments in Spark Capital closed. $20 million was allocated to Spark Capital VIII and $40 million was allocated to Spark Capital Growth Fund V. 

Lastly, in private credit, $100 million was allocated to KKR Asset Based Finance Partners II. The investment closed on February 27. 

As of December 31, 2024, the $42.5 billion Pension Fund allocates 13% to private equity with a policy target of 9%. In private credit, the Fund has a current and policy target allocation of 9% and 7% respectively. 

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of [Dakota Marketplace](https://www.dakota.com/dakota-marketplace)! *

 Tags: [Pension Funds](https://dakotafunds.com/dakota-funds/tag/pension-funds), [Alternative Insights](https://dakotafunds.com/dakota-funds/tag/alternative-insights), [Private Equity](https://dakotafunds.com/dakota-funds/tag/private-equity), [Private Credit](https://dakotafunds.com/dakota-funds/tag/private-credit)

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