SC Retirement System Investment Commission Strikes Partnership with GCM Grosvenor Focused on Private Equity Co-investments
Staff Report From South Carolina CEO
Friday, June 14th, 2019
The South Carolina Retirement System Investment Commission ("RSIC") has formed a strategic partnership with GCM Grosvenor, a global alternative asset management firm, to build RSIC's private equity co-investments program. The partnership will leverage both organizations' relationships and resources to source and execute investment opportunities. The co-investment program is intended to become a meaningful percentage of RSIC's private equity exposure over time, with the goal of driving performance and reducing investment management costs.
"We are excited to launch this partnership with GCM Grosvenor," said RSIC Chief Investment Officer, Geoffrey Berg. "We believe this program will enable RSIC to efficiently and seamlessly execute co-investments and become one of the premier co-investment partners to private equity sponsors."
"We are delighted and honored that RSIC has chosen us as its strategic partner for this initiative," added Jon Levin, President of GCM Grosvenor. "We look forward to working with RSIC to build a world class co-investment program that helps it achieve its long-term objective of providing attractive returns to its pensioners."