VRS confirms $400m commitment

The US public pension has backed a private equity secondaries vehicle.

Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $92.1 billion
Allocation to alternatives: 25.3%

Virginia Retirement System confirmed a $400 million commitment to Whitehorse Liquidity Partners IV at its April 2021 investment advisory committee meeting, a contact at the pension informed Private Equity International.

Whitehorse Liquidity Partners‘s fourth secondaries vehicle remains in market raising capital and has raised $3.83 billion across various interim closes, surpassing its initial $3 billion target.

VRS has a 13 percent target allocation to private equity that currently stands at 14.1 percent.

As illustrated below, the $92.1 billion US public pension’s recent private equity commitments have predominantly targeted North American vehicles pursuing either buyout, secondaries or co-investment strategies.

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