Insight

VRS announces recent commitments

Virginia Retirement System announce recent private equity commitments worth $975m and €200m across six funds.

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Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $102.5 billion
Allocation to private equity: 18%

Virginia Retirement System has announced new commitments in materials from the pension fund’s latest investment advisory committee meeting.

The public pension made $975 million and €200 million worth of commitments to private equity vehicles. These commitments were comprised of $50 million to Lime Rock Resources VI, $300 million to GTCR XIV, $300 million to TA XV, $200 million to NGP Natural Resources XIII, $125 million to LS Power Equity Partners V and €200 million to CVC Capital Partners IX.

The commitments are all in private equity vehicles that invest in the North American region and have either a buyout or growth equity strategy, as shown in the table below. They were made between between 13 April and 23 August.

The $102.5 billion pension fund has a current allocation of 18 percent to private equity which is more than Virginia Retirement Systems target of 16 percent.

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