VRS confirms $685m in commitments

The US public pension has backed three vehicles in its latest round of commitments.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $76.90 billion
Allocation to alternatives: 28.80%

Virginia Retirement System approved $685 million-worth of private equity commitments at its June 2020 investment advisory committee meeting, a contact at the pension informed Private Equity International.

The commitments comprised of $300 million apiece to SSG Secured Lending Opportunities III and Farallon Special Situations Master Fund; alongside $85 million to Spectrum Equity Investors IX.

The $76.90 billion US public pension has a 13.0 percent target allocation to private equity that currently stands at 14.30 percent.

As illustrated below, VRS has a particular appetite for North American private equity funds focused on investments in the TMT sector.

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