VRS confirms $350m in commitments

The US public pension has backed three PE vehicles.

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

Virginia Retirement System has approved $350 million-worth of private equity commitments, a contact at the pension informed Private Equity International. The commitments comprise of $150 million to Insight Partners XI and $100 million apiece to Madison Dearborn Capital Partners VIII and Odyssey Investment Partners Fund VI.

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

As illustrated below, VRS has made several commitments to private equity funds with a 2019 vintage, which combined constitute $2.66 billion.

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