Virginia Retirement System, Richmond, announced commitments of $1 billion at a meeting Wednesday of its investment advisory committee.
In credit strategies, the $93.6 billion pension fund committed $400 million to Whitehorse Liquidity Partners IV for a portfolio finance strategy.
In real assets, Virginia committed $125 million to Penwood Select Industrial Partners VI for a closed-end enhanced core fund investing in U.S. industrial properties managed by Penwood Real Estate Investment Management, and $125 million to Harrison Street Real Estate Partners Fund VIII, a closed-end opportunistic fund investing in U.S. and Canada alternative property types, such as senior or student housing, managed by Harrison Street Real Estate Capital.
Virginia also hired Coatue Management for a $400 million long/short equity fund.
The system's asset allocation as of Sept. 30 was 35.7% public equity, 16.3% fixed income, 13.8% credit strategies, 13.5% private equity, 13.4% real assets, 2.9% public multiasset strategies, 1.7% private investment and the remainder in cash.