Virginia Retirement System commits $475m to private equity funds

The US public pension fund has backed two private equity funds with a focus on North America and Western Europe.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $78.60bn
Allocation to alternatives: 36.95%

The Virginia Retirement System (VRS) approved a commitment of $350 million to Hellman & Friedman Capital Partners IX and $125 million to Thoma Bravo Fund XIII. Thoma Bravo Fund XIII targets investments in North America and the Hellman & Friedman Capital Partners IX targets investments in North America and Europe.

The $78.6 billion US public pension fund has a 12 percent target allocation to private equity that currently stands at 10 percent. The chart below illustrates how VRS allocates its assets to alternatives.

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