Institution: Virginia Retirement System
Headquarters: Richmond, United States
Allocation to alternatives: 25.26%
Virginia Retirement System (VRS) agreed to commit $235 million to three private equity funds in its January board meeting, a contact at the pension informed Private Equity International. The commitments in question comprise of $150 million to SSG Capital Partners V, $50 million to EIG Energy Fund XVII and $35 million to Abry Partners IX.
The $80.2 billion US public pension has a 15 percent target allocation to private equity that currently stands at 10.4 percent.
As illustrated in the charts below, VRS is an active investor in private equity. The pension has committed capital to 13 private equity funds with a 2018 vintage, which altogether constitutes around $1.895 billion in commitments.
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