Virginia Retirement Commits $375M to Real Assets

The Virginia Retirement System has disclosed three alternative investments totaling up to $375 million, according to meeting materials from the June board meeting.

$50 million was committed to Lime Rock Resources Fund VI, a real assets fund that invests in domestic oil and gas assets.

$125 million was committed to Westbrook Real Estate Fund XII, a value-add real estate fund.

$200 million was committed to Carson JV IV, an industrial joint venture managed by Carson Companies.

As of March 31, 2023, the $103 billion Retirement System has an actual and target allocation to real assets of 13.8% and 14% respectively.

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