RSIC reports two new private‑equity commitments; moves to executive session on investments and personnel

At the Feb. 13 meeting the commission’s chief investment officer reported two delegated private‑equity commitments closed since the prior meeting: one commitment to a Charlotte‑based private‑equity platform and another to a venture platform the staff described as a new relationship for the commission. Staff identified Brian Moore as the contact for questions about those investments.

Shortly after the investment update, a member moved that the commission enter executive session to discuss investment matters and certain portions of the consolidated annual investment plan and the statement of investment objectives and policies, to discuss the bonds portfolio, to consider personnel matters and to receive legal advice. The motion cited South Carolina code sections referenced during the motion. The motion was seconded and approved by voice vote; the commission moved into executive session and staff were excused. The meeting later adjourned.

What this means: the investment decisions reported were presented as delegated commitments (staff-executed closings) rather than voted new commitments in open session. The executive-session motion cited state code provisions permitting closed deliberation on investment and personnel matters; no additional substantive details were discussed in the public record after the motion to go into executive session.

The commission did not take further open actions before adjourning; any actions taken in executive session will be recorded in the minutes as required by law.