DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

State retirement system

South Carolina Retirement System (SCRS)

State retirement systemstate generalSC

Assets

$51B

Fiduciary net position, Jun 30, 2025 reported

Funded

n/a

not filed

Private markets target

28.0%

policy Jun 30, 2025

Commitments

30 dated closings

Allocation policy

ACFR, as of Jun 30, 2025

Asset class (as printed)	Bucket	Target	Range	Basis
Bonds	Fixed income	26.0%	10% to 35%	reported peba.sc.gov
Infrastructure	Infrastructure	3.0%	0% to 5%	reported peba.sc.gov
Private Debt	Private credit	7.0%	3% to 11%	reported peba.sc.gov
Private Equity	Private equity	9.0%	5% to 13%	reported peba.sc.gov
Public Equity	Public equity	46.0%	30% to 60%	reported peba.sc.gov
Real Estate	Real estate	9.0%	5% to 13%	reported peba.sc.gov

Consultants and advisers

4 firms

Verus Advisory, Inc. General consultantthrough Jun 30, 2025 ACFR
Albourne America LLC Specialist consultantthrough Jun 30, 2025 ACFR
Gabriel, Roeder, Smith & Company Actuarythrough Jun 30, 2025 ACFR
Bny Custodianthrough Jun 30, 2025 ACFR

People

2 roles

Chief investment officer

Bryan Moore

Chief Investment Officer (Jun 30, 2025) peba.sc.gov

Bryan Moore, CFA, CAIA, Chief Investment Officer

Peggy G. Boykin Executive DirectorExecutive director / CEO

Manager roster

15 managers on the commitment tape

From the plan’s own commitment disclosures

TA Realty2 rows, $526M, latest Feb 16, 2026
General Atlantic2 rows, $275M, latest Jun 17, 2025
Francisco Partners2 rows, 1 re-ups, $200M, latest Feb 23, 2026
Kingswood Capital Management, L.P.2 rows, $150M, latest Apr 27, 2026
Spark Capital2 rows, 1 re-ups, $100M, latest Mar 31, 2026
Fortress1 rows, $350M, latest Oct 28, 2025
Audax1 rows, $350M, latest Jul 31, 2025
Barings LLC1 rows, $250M, latest May 15, 2026
Basalt Infrastructure Partners IV1 rows, $200M, latest Jan 29, 2026
Alpine Investors1 rows, $100M, latest Jul 20, 2026
Brookfield1 rows, $100M, latest Apr 17, 2026
Great Hill Partners1 rows, $100M, latest Jul 10, 2025
Carlyle1 rows, $100M, latest Jun 17, 2025
Unity Partners1 rows, $75.0M, latest May 14, 2026
Cinven1 rows, latest Jun 26, 2025

Commitments

30 rows, 30 dated closings

Dated closings (the plan’s own date)

Date	Fund	Manager	Bucket	Amount	Status	Source
Jul 28, 2026	Industry Ventures Secondary XIsecondary	Industry Ventures	Private equity	$150M	Committed (dated)	rsic.sc.gov
Jul 23, 2026	Abacus Multi-Family Partners VII	Abacus	Real assets	$150M	Committed (dated)	rsic.sc.gov
Jul 20, 2026	Alpine Investors Heroes I	Alpine Investors	Private equity	$100M	Committed (dated)	rsic.sc.gov
May 15, 2026	Barings Blue Ridge Fund	Barings LLC	Private credit	$250M	Committed (dated)	rsic.sc.gov
May 14, 2026	Unity Partners Fund II	Unity Partners	Private equity	$75.0M	Committed (dated)	rsic.sc.gov
Apr 27, 2026	Kingswood Capital Opportunities Fund IV	Kingswood Capital Management, L.P.	Private equity	$100M	Committed (dated)	rsic.sc.gov
Apr 27, 2026	Kingswood Capital Opportunities Small Cap Fund I	Kingswood Capital Management, L.P.	Private equity	$50.0M	Committed (dated)	rsic.sc.gov
Apr 17, 2026	Brookfield Capital Partners VII	Brookfield	Private equity	$100M	Committed (dated)	rsic.sc.gov
Mar 31, 2026	Spark Capital Growth Fund VI	Spark Capital	Private equity	$70.0M	Committed (dated)	rsic.sc.gov
Mar 31, 2026	Spark Capital IX	Spark Capital	Private equity	$30.0M	Committed (dated)re-up	rsic.sc.gov
Feb 23, 2026	Francisco Partners VIII	Francisco Partners	Private equity	$150M	Committed (dated)	rsic.sc.gov
Feb 23, 2026	Francisco Partners Agility IV	Francisco Partners	Private equity	$50.0M	Committed (dated)re-up	rsic.sc.gov
Feb 16, 2026	TA Realty-SCseparate account	TA Realty	Real assets	$526M	Committed (dated)	rsic.sc.gov
Feb 16, 2026	TA Realty separate accountseparate account	TA Realty	Real assets	n/a	Committed (dated)	rsic.sc.gov
Jan 29, 2026	Basalt Infrastructure Partners Fund V	Basalt Infrastructure Partners IV	Real assets	$200M	Committed (dated)	rsic.sc.gov
Dec 31, 2025	Strategic Partners X	unresolved	Private equity	$250M	Committed (dated)	rsic.sc.gov
Dec 9, 2025	Muskoka JV, LLC	unresolved	Private credit	$200M	Committed (dated)	rsic.sc.gov
Dec 5, 2025	High Vista Private Equity XI, LP	High Vista	Private equity	$50.0M	Committed (dated)	rsic.sc.gov
Oct 28, 2025	Fortress Fripp Credit Fund, LP	Fortress	Private credit	$350M	Committed (dated)	rsic.sc.gov
Jul 31, 2025	Audax Anderson Private Debt Fund, L.P.	Audax	Private credit	$350M	Committed (dated)	rsic.sc.gov
Jul 10, 2025	Great Hill Equity Partners IX	Great Hill Partners	Private equity	$100M	Committed (dated)	rsic.sc.gov
Jul 9, 2025	Regal HCP IV	Regal	Private equity	$50.0M	Committed (dated)	rsic.sc.gov
Jun 27, 2025	Plexus Equity Fund II	Plexus	Private equity	$50.0M	Committed (dated)	rsic.sc.gov
Jun 26, 2025	TGP AG Credit Solutions Fund III	TGP AG	Private credit	$100M	Committed (dated)	rsic.sc.gov
Jun 26, 2025	Cinven Strategic Fund 2	Cinven	Private equity	n/a	Committed (dated)	rsic.sc.gov
Jun 23, 2025	JCP Congaree Credit Fund, L.P.	JCP	Private credit	$350M	Committed (dated)	rsic.sc.gov
Jun 23, 2025	Congaree Credit Fund, L.P.	JCP	Private credit	$350M	Committed (dated)	rsic.sc.gov
Jun 17, 2025	General Atlantic Investment Partners 2025	General Atlantic	Private equity	$200M	Committed (dated)	rsic.sc.gov
Jun 17, 2025	Carlyle Realty Partners X, L.P.	Carlyle	Real assets	$100M	Committed (dated)	rsic.sc.gov
Jun 17, 2025	General Atlantic Investment Partners 2025co investment	General Atlantic	Private equity	$75.0M	Committed (dated)	rsic.sc.gov

Size and funding

58 readings

Total assets

$37B Jun 30, 2024 derived Census ASPP

$35B (2023-06) · $32B (2022-06)

Fiduciary net position

$51B Jun 30, 2025 reported ACFR

$38B (2024-06) · $34B (2023-06) · $32B (2022-06)

Long-term investments

$34B Jun 30, 2024 reported Census ASPP

$32B (2023-06) · $31B (2022-06)

Total pension liability

$23B Jun 30, 2024 reported Census ASPP

$24B (2023-06) · $24B (2022-06)

Discount rate

7.00% Jun 30, 2024 reported Census ASPP

7.00% (2023-06) · 7.00% (2022-06)

Participants

587,070 Jun 30, 2024 derived Census ASPP

568,356 (2023-06) · 554,511 (2022-06)

Active members

205,985 Jun 30, 2024 derived Census ASPP

200,989 (2023-06) · 199,162 (2022-06)

Beneficiaries

153,558 Jun 30, 2024 reported Census ASPP

150,856 (2023-06) · 148,008 (2022-06)

Benefits paid

$3.5B Jun 30, 2024 reported Census ASPP

$3.3B (2023-06) · $3.2B (2022-06)

Investment expense

$412M Jun 30, 2024 reported Census ASPP

$399M (2023-06) · $592M (2022-06)

Commitment history

29 decisions the board record started

One line per vehicle, folded across the board’s own minutes and the plan’s later reports: when the item was proposed or recommended, when the board approved it, when the closing was dated, and when the position first showed up in a report. A line is closed only when a closing date exists; held means the plan reports the position without one on this graph.

Vehicle	Manager	Amount	State	Proposed	Approved	Closed	First reported	Other LPs
Industry Ventures Secondary XI	n/a	$150M	closed	-	-	Jul 28, 2026	-	-
Abacus Multi-Family Partners VII	n/a	$150M	closed	-	-	Jul 23, 2026	-	-
Alpine Investors Heroes I, LP	Alpine Investors	$100M	closed	-	-	Jul 20, 2026	-	-
Barings Blue Ridge Fund	Barings LLC	$250M	closed	-	-	May 15, 2026	-	-
Unity Partners Fund II, LP	Unity Partners	$75.0M	closed	-	-	May 14, 2026	-	-
Kingswood Capital Opportunities Fund IV, L.P.	Kingswood Capital Management, L.P.	$100M	closed	-	-	Apr 27, 2026	-	1
Kingswood Capital Opportunities Small Cap Fund I, L.P.	Kingswood Capital Management, L.P.	$50.0M	closed	-	-	Apr 27, 2026	-	1
Brookfield Capital Partners VII	Brookfield	$100M	closed	-	-	Apr 17, 2026	-	-
Spark Capital Growth Fund VI, L.P.	Spark Capital	$70.0M	closed	-	-	Mar 31, 2026	-	1
Spark Capital IX, L.P.	Spark Capital	$30.0M	closed	-	-	Mar 31, 2026	-	2
Francisco Partners Agility IV, L.P.	Francisco Partners	$50.0M	closed	-	-	Feb 23, 2026	-	4
Francisco Partners VIII, L.P.	Francisco Partners	$150M	closed	-	-	Feb 23, 2026	-	4
TA Realty separate account	TA Realty	n/a	closed	-	-	Feb 16, 2026	-	-
TA Realty-SC	TA Realty	$526M	closed	-	-	Feb 16, 2026	-	-
Basalt Infrastructure Partners Fund V	Basalt Infrastructure Partners IV	$200M	closed	-	-	Jan 29, 2026	-	-
Strategic Partners X L.P.	n/a	$250M	closed	-	-	Dec 31, 2025	-	1
Muskoka JV, LLC	n/a	$200M	closed	-	-	Dec 9, 2025	-	-
High Vista Private Equity XI, LP	n/a	$50.0M	closed	-	-	Dec 5, 2025	-	-
Fortress Fripp Credit Fund, LP	Fortress	$350M	closed	-	-	Oct 28, 2025	-	-
Audax Anderson Private Debt Fund, L.P.	Audax	$350M	closed	-	-	Jul 31, 2025	-	-
Great Hill Equity Partners IX	Great Hill Partners	$100M	closed	-	-	Jul 10, 2025	-	-
Regal HCP IV	n/a	$50.0M	closed	-	-	Jul 9, 2025	-	-
Plexus Equity Fund II	n/a	$50.0M	closed	-	-	Jun 27, 2025	-	-
TGP AG Credit Solutions Fund III	n/a	$100M	closed	-	-	Jun 26, 2025	-	-
Cinven Strategic Fund 2	Cinven	n/a	closed	-	-	Jun 26, 2025	-	-
JCP Congaree Credit Fund, L.P.	n/a	$350M	closed	-	-	Jun 23, 2025	-	-
Congaree Credit Fund, L.P.	n/a	$350M	closed	-	-	Jun 23, 2025	-	-
General Atlantic Investment Partners 2025	General Atlantic	$200M	closed	-	-	Jun 17, 2025	-	-
Carlyle Realty Partners X, L.P.	Carlyle	$100M	closed	-	-	Jun 17, 2025	-	-

What changed

71 events

Jul 28, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $150M to Industry Ventures Secondary XI, closed 2026-07-28
rsic.sc.gov
Jul 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $150M to Abacus Multi-Family Partners VII, closed 2026-07-23
rsic.sc.gov
Jul 20, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Alpine Investors Heroes I, closed 2026-07-20
with Alpine Investorsrsic.sc.gov
Jun 4, 2026Policy updated
South Carolina Retirement System Investment Commission (RSIC) adopts a policy change (see the minutes)
rsic.sc.gov
May 15, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $250M to Barings Blue Ridge Fund (Barings LLC), closed 2026-05-15
with Barings LLCrsic.sc.gov
May 15, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $250M to Barings Blue Ridge Fund (Barings LLC), closed 2026-05-15
with Barings LLCrsic.sc.gov
May 15, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $250M to Barings Blue Ridge Fund (Barings LLC), closed 2026-05-15
with Barings LLCrsic.sc.gov
May 14, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $75M to Unity Partners Fund II, closed 2026-05-14
rsic.sc.gov
May 14, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $75M to Unity Partners Fund II, closed 2026-05-14
with Unity Partnersrsic.sc.gov
May 14, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $75M to Unity Partners Fund II, closed 2026-05-14
with Unity Partnersrsic.sc.gov
Apr 27, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Kingswood Capital Opportunities Fund IV (Kingswood Capital Management, L.P.), closed 2026-04-27
with Kingswood Capital Management, L.P.rsic.sc.gov
Apr 27, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Kingswood Capital Opportunities Small Cap Fund I (Kingswood Capital Management, L.P.), closed 2026-04-27
with Kingswood Capital Management, L.P.rsic.sc.gov
Apr 27, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Kingswood Capital Opportunities Fund IV (Kingswood Capital Management, L.P.), closed 2026-04-27
with Kingswood Capital Management, L.P.rsic.sc.gov
Apr 27, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Kingswood Capital Opportunities Fund IV (Kingswood Capital Management, L.P.), closed 2026-04-27
with Kingswood Capital Management, L.P.rsic.sc.gov
Apr 27, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Kingswood Capital Opportunities Small Cap Fund I (Kingswood Capital Management, L.P.), closed 2026-04-27
with Kingswood Capital Management, L.P.rsic.sc.gov
Apr 27, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Kingswood Capital Opportunities Small Cap Fund I (Kingswood Capital Management, L.P.), closed 2026-04-27
with Kingswood Capital Management, L.P.rsic.sc.gov
Apr 17, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Brookfield Capital Partners VII, closed 2026-04-17
rsic.sc.gov
Apr 17, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Brookfield Capital Partners VII, closed 2026-04-17
with Brookfieldrsic.sc.gov
Mar 31, 2026Re-up
South Carolina Retirement System (SCRS) re-ups with Spark Capital: $30M to Spark Capital IX (None)
with South Carolina Retirement System (SCRS)rsic.sc.gov
Mar 31, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $30M to Spark Capital IX, closed 2026-03-31
with Spark Capitalrsic.sc.gov
Mar 31, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $70M to Spark Capital Growth Fund VI, closed 2026-03-31
with Spark Capitalrsic.sc.gov
Mar 31, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $30M to Spark Capital IX, closed 2026-03-31
with Spark Capitalrsic.sc.gov
Mar 31, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $70M to Spark Capital Growth Fund VI, closed 2026-03-31
with Spark Capitalrsic.sc.gov
Mar 31, 2026Re-up
South Carolina Retirement System (SCRS) re-ups with Spark Capital: $30M to Spark Capital IX (the minutes' own words)
with South Carolina Retirement System (SCRS)rsic.sc.gov
Mar 31, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $30M to Spark Capital IX, closed 2026-03-31
with Spark Capitalrsic.sc.gov
Mar 31, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $70M to Spark Capital Growth Fund VI, closed 2026-03-31
with Spark Capitalrsic.sc.gov
Feb 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Francisco Partners Agility IV, closed 2026-02-23
with Francisco Partnersrsic.sc.gov
Feb 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Francisco Partners Agility IV, closed 2026-02-23
with Francisco Partnersrsic.sc.gov
Feb 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Francisco Partners Agility IV, closed 2026-02-23
with Francisco Partnersrsic.sc.gov
Feb 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $150M to Francisco Partners VIII, closed 2026-02-23
with Francisco Partnersrsic.sc.gov
Feb 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $150M to Francisco Partners VIII, closed 2026-02-23
with Francisco Partnersrsic.sc.gov
Feb 23, 2026Re-up
South Carolina Retirement System (SCRS) re-ups with Francisco Partners: $50M to Francisco Partners Agility IV (the minutes' own words)
with South Carolina Retirement System (SCRS)rsic.sc.gov
Feb 23, 2026Re-up
South Carolina Retirement System (SCRS) re-ups with Francisco Partners: $50M to Francisco Partners Agility IV (the minutes' own words)
with South Carolina Retirement System (SCRS)rsic.sc.gov
Feb 23, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $150M to Francisco Partners VIII, closed 2026-02-23
with Francisco Partnersrsic.sc.gov
Feb 16, 2026Commitment closed
South Carolina Retirement System (SCRS) commits an undisclosed amount to TA Realty separate account, closed 2026-02-16
with TA Realtyrsic.sc.gov
Feb 16, 2026Commitment closed
South Carolina Retirement System (SCRS) commits an undisclosed amount to TA Realty separate account, closed 2026-02-16
with TA Realtyrsic.sc.gov
Feb 16, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $526M to TA Realty-SC, closed 2026-02-16
with TA Realtyrsic.sc.gov
Jan 29, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $200M to Basalt Infrastructure Partners Fund V (Basalt Infrastructure Partners IV), closed 2026-01-29
with Basalt Infrastructure Partners IVrsic.sc.gov
Jan 29, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $200M to Basalt Infrastructure Partners Fund V (Basalt Infrastructure Partners IV), closed 2026-01-29
with Basalt Infrastructure Partners IVrsic.sc.gov
Jan 29, 2026Commitment closed
South Carolina Retirement System (SCRS) commits $200M to Basalt Infrastructure Partners Fund V (Basalt Infrastructure Partners IV), closed 2026-01-29
with Basalt Infrastructure Partners IVrsic.sc.gov
Dec 31, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $250M to Strategic Partners X, closed 2025-12-31
rsic.sc.gov
Dec 31, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $250M to Strategic Partners X, closed 2025-12-31
rsic.sc.gov
Dec 31, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $250M to Strategic Partners X, closed 2025-12-31
rsic.sc.gov
Dec 9, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $200M to Muskoka JV, LLC, closed 2025-12-09
rsic.sc.gov
Dec 9, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $200M to Muskoka JV, LLC, closed 2025-12-09
rsic.sc.gov
Dec 9, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $200M to Muskoka JV, LLC, closed 2025-12-09
rsic.sc.gov
Dec 5, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $50M to High Vista Private Equity XI, LP, closed 2025-12-05
rsic.sc.gov
Dec 5, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $50M to High Vista Private Equity XI, LP, closed 2025-12-05
rsic.sc.gov
Oct 28, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $350M to Fortress Fripp Credit Fund, LP, closed 2025-10-28
with Fortressrsic.sc.gov
Jul 31, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $350M to Audax Anderson Private Debt Fund, L.P., closed 2025-07-31
with Audaxrsic.sc.gov
Jul 31, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $350M to Audax Anderson Private Debt Fund, L.P., closed 2025-07-31
with Audaxrsic.sc.gov
Jul 10, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Great Hill Equity Partners IX (Great Hill Partners), closed 2025-07-10
with Great Hill Partnersrsic.sc.gov
Jul 10, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $100M to Great Hill Equity Partners IX (Great Hill Partners), closed 2025-07-10
with Great Hill Partnersrsic.sc.gov
Jul 9, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Regal HCP IV, closed 2025-07-09
rsic.sc.gov
Jun 27, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Plexus Equity Fund II, closed 2025-06-27
rsic.sc.gov
Jun 27, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $50M to Plexus Equity Fund II, closed 2025-06-27
rsic.sc.gov
Jun 26, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $100M to TGP AG Credit Solutions Fund III, closed 2025-06-26
rsic.sc.gov
Jun 26, 2025Commitment closed
South Carolina Retirement System (SCRS) commits an undisclosed amount to Cinven Strategic Fund 2, closed 2025-06-26
with Cinvenrsic.sc.gov
Jun 26, 2025Commitment closed
South Carolina Retirement System (SCRS) commits $100M to TGP AG Credit Solutions Fund III, closed 2025-06-26
rsic.sc.gov
Jun 26, 2025Commitment closed
South Carolina Retirement System (SCRS) commits an undisclosed amount to Cinven Strategic Fund 2, closed 2025-06-26
with Cinvenrsic.sc.gov

Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.

Provenance

Identifiers: Census PID6 227729

Cross-graph: no entry on another DFX graph

First observed Sep 15, 2026, last observed Sep 16, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.