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Virginia Retirement commits $850m to private equity

Virginia Retirement System backs four private equity funds.

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Name: Virginia Retirement System
Headquarters: Richmond, US
AUM: $102.5 billion
Allocation to Public equity: 18%

Virginia Retirement System has confirmed commitments worth $850 million to private equity vehicles during its April investment advisory committee meeting.

VRS has committed $150 million to Ares Capital Europe VI, $250 million to Ares Pathfinder II, $150 million to Oaktree Opportunities Fund XII and a further $300 million to Hellman and Friedman XI.

The pension fund’s current allocation to private equity funds is 18 percent, which is above the target allocation of 16 percent of its $102.5 billion investment portfolio.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.