Virginia Retirement System Allocates $1.3B to Alts

The Virginia Retirement System has approved seven allocations to alternatives totaling $1.3 billion, according to materials from the June 20th board meeting.

In real estate, $150 million was committed to Pretium Single Family Rental Fund VI and $225 million to IPI Partners Fund III.

In private equity, $250 million was allocated to Veritas Capital Fund IX, $150 million to Monomoy Fund V, and $50 million to H.I.G. LBO VII.

Within private credit, $250 million was allocated to Castlelake Asset-Based Private Credit III. And in real assets, $200 million to Resource Capital Mining Separate Account.

As of June 12, 2024, the $113 billion pension fund allocates approximately 17% to private equity with a target of 16%, approximately 12.4% to real assets with a target of 14%, and 14.8% to credit strategies with a target of 14%.

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