Virginia Retirement System, Richmond, disclosed commitments and investments totaling $730 million in materials for the $103.9 billion pension fund's Nov. 15 investment advisory committee meeting.
The commitments were made between Aug. 23 and Nov. 1.
Within its credit strategies asset class, VRS committed $250 million to secondary private equity fund of funds Whitehorse Liquidity Partners VI and $230 million to European private debt fund Park Square Capital Partners V.
As of Nov. 7, the pension fund's actual allocation to credit strategies was 14.3%; the target is 14%.
Within its exposure management portfolio, VRS invested $200 million in Saba Arcadia Fund, a closed-end fund managed by Saba Capital that invests in publicly traded closed-end funds.
As of Nov. 7, the pension fund's actual allocation to its exposure management portfolio was 0.9%. There is no target.
Within real assets, VRS committed $50 million to Realterm Logistics Income Fund, an open-end core industrial real estate fund.
As of Nov. 7, the pension fund's actual allocation to real assets was 13.5%; the target is 14%.