RI S3014

State Investment Commission must adopt a capital access initiative policy by January 1, 2027 to engage traditionally disadvantaged investment managers with underrepresented backgrounds in managing state pension fund assets

Commission must take affirmative steps to remove barriers to participation, including evaluating whether requirements for minimum track record length or assets under management exclude qualified managers

Goal of at least 10% of investment managers managing the state pension fund to be qualified through the capital access initiative

"Underrepresented investment manager" defined as firms at least 51% owned by minorities or women, and/or whose management and daily operations are controlled by such individuals

General Treasurer must prepare annual progress reports beginning in fiscal year 2028, submitted to the commission and transmitted to legislative leadership within six months of fiscal year end