Virginia Retirement System, Richmond, disclosed commitments and investments totaling about $1.8 billion.
The commitments and investments were made between April 11 and Aug. 14, according to materials for the $113.3 billion pension fund’s Aug. 14 Investment Advisory Committee meeting.
Within private equity, VRS invested $750 million in GCM Grosvenor VRS VI, a separate account managed for VRS. The pension fund also committed $250 million to Olympus Growth Fund VIII, a growth and expansion fund managed by Olympus Partners, and also $250 million to Thoma Bravo Fund XVI, a buyout fund focused on the software industry.
Within real assets, the pension fund committed $200 million to EnCap Energy Capital Fund XII, an oil and gas fund managed by EnCap Investments, and $150 million to Carlyle Realty Partners X, a real estate opportunistic fund managed by Carlyle Group. The pension fund also committed $45 million to Affinius U.S. Eagle Real Estate Fund, an open-end fund managed by Affinius Capital.
Within dynamic strategies, VRS committed $200 million to PineBridge Global Dynamic Asset Allocation Fund, a multiasset absolute-return portfolio managed by PineBridge Investments.
Additionally, the pension fund terminated Systematica Investments from a $1.8 billion notional developed markets currency strategy. “The relationship with Systematica no longer fit within the objectives for the portfolio,” VRS spokeswoman Jeanne Chenault said in an email.
