Virginia Retirement System, Richmond, disclosed a commitment and two investments totaling $738 million.
Within credit strategies, the $116.1 billion pension fund invested $500 million in Apollo Libra, a closed-end, separately managed account focused on opportunistic credit and managed by Apollo Global Management.
As of Oct. 8, the actual allocation to credit strategies was 15.4%; the target is 14%.
Within real assets, VRS committed $200 million to AMLI Residential III, a joint venture with the apartment operator AMLI Residential focused on core, class A properties in select target markets in the U.S.
As of Oct. 8, the actual allocation to real assets was 12.4%; the target is 14%.
Within diversifying strategies, the pension fund invested $38 million in NISA Alpha Strategies, a multiasset absolute-return strategy managed by NISA Investment Advisors.
As of Oct. 8, the actual allocation to diversifying strategies was 3.4%; the target is 4%.
