June 12, 2019
The South Carolina Retirement System Investment Commission Announces a Strategic Partnership with GCM Grosvenor Focused on Private Equity Co-Investments
COLUMBIA, South Carolina and CHICAGO, Illinois, June 13, 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.”
ABOUT THE SOUTH CAROLINA RETIREMENT SYSTEM INVESTMENT COMMISSION
The South Carolina Retirement System Investment Commission is responsible for investing and managing all assets held in trust for the participants and beneficiaries of the state’s five governmental defined benefit plans with over $31 billion in AUM. RSIC’s primary investment objective is to achieve a high level of investment return consistent with a prudent level of portfolio risk. The assets of the Retirement System are invested in a manner that is designed to increase the probability of achieving the long-term objectives of the Retirement System.
ABOUT GCM GROSVENOR
GCM Grosvenor is a global alternative asset management firm with over $50 billion of assets under management in hedge fund strategies, private equity, infrastructure, real estate and multi-asset class solutions. It is one of the largest, most diversified independent alternative asset management firms worldwide. GCM Grosvenor has offered alternative investment solutions since 1971. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong and Seoul. GCM Grosvenor serves a global client base of institutional and high net worth investors.
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