VRS approves $425m in commitments

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $82.70bn
Allocation to alternatives: 24.08%
Bitesize: $100-200m

Virginia Retirement System has agreed to $425 million-worth of private equity commitments, a contact at the pension informed Private Equity International. The commitments comprise of $200 million to corporate debt fund Ares Special Opportunities, $75 million to TA Select Opportunities and $150 million to MBK Partners Fund V.

The $82.70 billion Richmond-based public pension has a 15.0 target allocation to private equity that currently stands at 11.90 percent.

As illustrated below, VRS is a repeat investor to private equity vehicles managed by TA Associates. The pension has committed to five such vehicles, which combined constitute at least $725 million.

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