PROVIDENCE, R.I. – The State Investment Commission voted unanimously to begin the process of divesting from a gun distributor (United Sporting Companies) that it is invested in through its private equity portfolio. The following specific actions were taken:
- The State Investment Commission voted to pursue a secondary sale of the Wellspring IV stake. The SIC's consultant, Cliffwater will now seek pricing for the sale.
- The State Investment Commission voted to allow Cliffwater and Treasury's investment division to begin a process to remove the interest in Summit's gun distributor holding from the pension investment portfolio.