Virginia Retirement System (VRS) has confirmed additional private equity investment vehicle commitments worth $850 million at its April investment advisory committee meeting, according to a report by Private Equity International.
With the new commitments VRS has allocated $150 million to Ares Capital Europe VI, and $250 million to Ares Pathfinder II. In addition, the pension scheme has made a $150 million commitment to Oaktree Opportunities Fund XII and a further $300 million to Hellman and Friedman XI.
The $102.5 billion pension scheme’s current private equity allocation stands at 18%, which is above the target allocation of 16%.
