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Rhode Island approves $45m in commitments

Rhode Island State Treasury has backed Paine Schwartz's sixth flagship agribusiness fund.

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  • Name: Rhode Island State Treasury
  • HQ: Providence, US
  • AUM: $10.6 billion
  • Allocation to alternatives: 25.9%

Rhode Island State Treasury committed $30 million to Paine Schwartz Food Chain Fund VI, according to their June 22 investment meeting. They also committed $15 million to a co-investment vehicle alongside the fund.

Rhode Island State Treasury administers and manages investments on behalf of the Employees’ Retirement System of Rhode Island.

Founded in 2006, Paine Schwartz Partners is a California-headquartered private equity firm that specializes in controlled investment in food and agribusiness sectors, globally.

Rhode Island State Treasury has a 14 percent allocation to private equity, which comprises $1.5 billion in capital. Rhode Island State Treasury currently has a target allocation of 12 percent.

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