Virginia Retirement System, Richmond, committed $250 million to private equity and real assets and terminated a credit manager, the $82 billion pension fund announced Wednesday.
In private equity, the pension fund committed $200 million to Leonard Green VIII, A mega buyout fund managed by Leonard Green & Partners that invests in market-leading franchises primarily in consumer and health-care companies.
In real assets, the pension fund committed $50 million to Lime Rock Resources V, a closed-end fund focused on oil and gas investments in the U.S.
Also, credit strategies manager BlueBay Asset Management was terminated from a $23 million emerging markets debt mandate. Fund spokeswoman Jeanne Chenault said the BlueBay investment no longer fit with the goals of the portfolio.