Virginia Retirement System, Richmond, committed $450 million to real estate funds and $35 million in private equity.
According to minutes from the fund's Jan. 14 board meeting, the $80.2 billion fund committed $200 million each to Blackstone Real Estate Partners IX and Global Infrastructure Partners Fund IV. Real assets represent 13.4% of the fund's total assets.
Blackstone's latest real estate fund will invest in large complicated transactions with a minimum of 60% of the fund's total capital to be invested in the U.S. and Canada. The fund will get international exposure by investing alongside two of Blackstone's other real estate funds, Blackstone Real Estate Partners Europe V and Blackstone Real Estate Partners Asia II.
Another $50 million was committed to EIG Global Energy Partners for its global natural resources and energy infrastructure fund, EIG Energy Fund XVII.
The $35 million private equity commitment is to ABRY Partners IX, a middle-market media, communications and business services buyout fund focused on U.S. companies.
The pension fund also committed $150 million to SSG Capital Partners V, a private credit fund targeting special situation and distressed investments in Asia.
The fund also opened a $100 million internally managed passive emerging market debt strategy.