Virginia Retirement System, Richmond, disclosed two new commitments totaling $347 million, spokeswoman Jeanne Chenault said in an email.
The $101.2 billion pension fund committed $250 million to Apollo European Principal Finance Fund IV, a distressed debt fund managed by Apollo Global Management, and €100 million ($97 million) to Antin Infrastructure Partners V, a closed-end infrastructure fund that invests in North America and Europe.
VRS previously committed €75 million to Antin Infrastructure Partners Mid-Cap I in 2021 and $200 million to Apollo Investment Fund X earlier this year.
Separately, the pension fund disclosed the termination of Pacific Investment Management Co. from a $510 million high-yield fixed-income portfolio. Ms. Chenault said assets will be reallocated to cash, and the termination was "part of normal portfolio management across the entire fund."
As of June 30, the actual allocations to real assets and credit strategies were 14.9% and 14.3%, respectively.
