Virginia Retirement System, Richmond, invested or committed a total of $753 million in public equity, private equity, real estate and credit funds.
The $65.2 billion pension fund hired Ariel Investments to run $250 million in a global long-only public equity strategy.
In private equity, the pension fund committed $150 million to Sycamore Partners II, a private equity fund focused on investing in turnaround situations in retail and consumer companies; $100 million to middle-market buyout fund Littlejohn Fund V, managed by Littlejohn & Co.; and $30 million to ABRY Advanced Securities Fund III, a direct lending fund managed by ABRY Partners.
New real estate commitments include €67 million ($91 million) to Blackstone Alban Gate Investment Partners, a fund formed by Blackstone Group to buy the London property, and €60 million to Meyer Bergman European Retail Partners II-TE, a non-core real estate fund.
In credit strategies, VRS committed $50 million to Beach Point Capital Management's Opportunities Fund.
All the funding comes from cash, spokeswoman Jeanne Chenault said. The moves were announced at the board of trustees meeting Thursday. Further information was not available by press time.