The Virginia Retirement System (VRS) has made a total of $3.2 billion in new investment allocations across credit strategies, private equity and real assets between mid-April and mid-August, according to a report by AlternativesWatch.
The Virginia Retirement System (VRS) has made a total of $3.2 billion in new investment allocations across credit strategies, private equity and real assets between mid-April and mid-August, according to a report by AlternativesWatch.
Over half the new capital ($1.6 billion) went to private equity, while credit saw $900 million in new commitments, and real assets garnered allocations totaling $675 million over the last four months.
The $101 billion pension fund reported a 0.6% return for the fiscal year 2022, with returns being led by strong gains in private markets investments. VRS’ $19 billion PE portfolio led the way worth return of 27.4% for the 12 months ending June 30, while real assets were the second-best performing asset class at VRS over the past year with gains of 21.7%.
New private equity commitments include Advent International GPE X ($200 million); Apax XI ($200 million); Apollo Investment Fund X ($200 million), Audax Private Equity Fund VII ($200 million); Green Equity Investors IX ($175 million); and Thoma Bravo XV ($100 million).
VRS has added four new funds to its $15 billion real assets portfolio – EIG River Energy Partners ($200 million); True Green Capital Fund IV ($75 million); iCon Infrastructure Partners VI ($150 million); and Blackstone Real Estate Partners X ($250 million).
