Virginia Retirement System, Richmond, allocated $1.05 billion to seven firms that are existing managers. All allocations were from cash, spokeswoman Jeanne Chenault said.
Officials at the $67.4 billion pension fund committed $200 million to Oaktree Capital Group and $150 million to KKR & Co. for strategies focused on special situations and distressed debt.
Another $50 million was committed to Babson Capital Global Private Credit Gateway Mezzanine Partners Fund II, a mezzanine debt strategy targeting companies in developed Asia-Pacific markets and managed by Babson Capital Management.
The pension fund also committed $300 million to buyout fund TPG Partners VII.
In real assets, VRS committed $150 million to Blackstone Real Estate Partners VIII, a global real estate opportunity fund managed by Blackstone Group; $100 million to Pantheon Ventures, for a separate account investing in natural resources; and $100 million to Penwood Real Estate Investment Management for its Penwood Select Industrial Partners IV, a closed-end fund investing in industrial real estate.
The moves were announced at the board meeting Monday.
