Virginia Retirement System, Richmond, committed $428 million to a new strategic opportunity program, $225 million to private equity and $350 million to real estate in recent weeks.
The moves were announced at the board of trustees meeting Thursday, spokeswoman Jeanne Chenault said.
In strategic opportunities, the $65.7 billion pension fund committed $200 million to AQR Capital Management and $228 million to Bridgewater Associates — $151 million for its Pure Alpha II strategy and $77 million for its All Weather strategy.
In private equity, VRS committed $125 million to Centerbridge Capital Partners III, which is managed by Centerbridge Partners and concentrates on finding corporate distressed debt and buyout opportunities among North American and European companies, and $100 million to Energy Spectrum Partners VII, a natural resources fund that makes direct investments in oil and gas companies.
In real estate, the pension fund committed $150 million to Sheridan Production Partners III-A, $100 million to PetroCap Partners II, a partnership between Highland Capital Management LP and energy investment firm PetroCap, and $100 million to Blackstone Property Partners, managed by Blackstone Group.