Virginia Retirement System, Richmond, disclosed two commitments and investments totaling $300 million.
The commitments and investments were made between Nov. 16 and April 10, according to materials for the $111.5 billion pension fund’s April 10 Investor Advisory Committee meeting.
Within real assets, VRS committed $200 million to Stonepeak Infrastructure Fund V, a U.S.-focused, closed-end infrastructure fund. The pension fund has made many commitments to Stonepeak funds in the past, including $100 million to Stonepeak Opportunities Fund in November.
Also within real assets, the pension fund invested $100 million in USEF Sailfish Venture, a preferred equity investment in U.S. real estate.
As of April 3, the actual allocation to real assets was 12.7%; the target is 14%.
Separately, within public equity, the pension fund terminated Arisaig Partners from a $224 million emerging market consumer-oriented strategy. The meeting materials did not provide a reason for the termination.
As of April 3, the actual allocation to public equity was 34%; the target is 33%.
