Virginia Retirement System commits $75 million to infrastructure
By Hazel Bradford | November 19, 2012 1:39 pm
Virginia Retirement System, Richmond, committed $75 million to Grain Infrastructure Fund II, according to an announcement at the Nov. 15 board of trustees meeting.
VRS spokeswoman Jeanne Chenault described the closed-end fund, managed by Grain Management LLC, as focused on wireless communication infrastructure.
The commitment is over three years and came from the pension fund's real assets allocation, currently at 4.8%. The real assets portfolio was the strongest performer in the fiscal year ended June 30, returning 11.9%, according to VRS.
The pension fund had $53.9 billion in assets as of Aug. 31.