Vermont State Retirement System approves $125m in commitments

The US public pension has backed two agribusiness-focused PE funds.

Institution: Vermont State Retirement System
Headquarters: Montpelier, United States
AUM: $4.50bn
Allocation to alternatives: 10.40%
Bitesize: $10-50m

Vermont State Retirement System has approved commitments of up to $100 million to Nuveen’s open-ended Global Farmland Fund and up to $25 million to Pontifax Global Food & Agriculture Technology Fund II, a contact at the pension confirmed to Private Equity International.

The $4.50 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 2.70 percent.

As illustrated in the charts below, Vermont State Retirement System has made six commitments to private equity funds with a 2018 or 2019 vintage, which combined constitute $425 million.

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