Virginia Retirement System, Richmond, with $37.3 billion in assets, approved seven follow-up private equity investments totaling $242.75 million. They are: $29.75 million in Austin Ventures VII; $25 million, Morgan Stanley Dean Witter Venture Partners IV; $50 million, Oaktree Capital Management Opportunities Fund III; $18 million, Redpoint Ventures I; $30 million, Telecom Partners III; $40 million, U.S. Venture Partners VII; and $50 million, Vestar Capital Partners IV. Funding will come from cash. Separately, Stuart A. Sachs was named vice chair of the systems investment advisory committee. He replaces J. Garnett Nelson, who died Dec. 8.