VRS approves $400m in commitments

The US public pension has backed two North American PE funds.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $82.30bn
Allocation to alternatives: 26.22%
Bitesize: $100-200m

Virginia Retirement System has agreed to commit $400 million to two private equity funds, a contact at the pension informed Private Equity International. The commitments comprise of $200 million apiece to HPS Mezzanine Partners 2019 and Veritas VII.

The $82.30 billion US public pension has a 15.0 percent target allocation to private equity that currently stands at 11.50 percent.

As illustrated below, VRS has made nine commitments to private equity funds with a 2019 vintage, which combined constitute $1.44 billion.

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