Virginia Retirement System doles out $400 million to public, private equity

Virginia Retirement System, Richmond, hired Lombardia Capital Partners to manage $200 million in active domestic small-cap value equity, according to information provided by the fund.

Funding for the hire came from cash.

VRS spokeswoman Jeanne Chenault was not available to provide further details.

The $53.1 billion retirement system also committed $200 million to Apax VIII, a private equity fund managed by Apax Partners.

VRS officials are also preparing an RFP for a record keeper for the defined contribution portion of a mandatory hybrid retirement plan for new employees effective Jan. 1, 2014. No further information could be learned.

At its August board meeting, the retirement system announced a 1.4% return for the fiscal year ended June 30.