VRS expands its appetite for credit strategies
The
$117bn system disclosed new commitments to real estate alongside new targets
for credit strategies for 2025
Virginia Retirement System
CIO Andrew Junkins considers ‘active management’ for high returns amid new PE, RE commitments
The
$113.9bn system disclosed its recent commits alongside flagging a high 9.9%
return for fiscal year 2024
Virginia Retirement System discloses its recent commitments to its private equity and real assets portfolio
The $113bn system has most recently made $575m commitment to its RA portfolio and $300m to its PE portfolio, as shown in the June meeting materials.
Virginia Retirement System Terminates One Manager, Commits to Two Others
CIO Ronald Schmitz also expects private equity returns
to be a bit stronger than hoped.
Virginia Retirement System Commits More than $3B to 18 Managers; Terminates 2 Others
Private
equity receives nearly half of the commitments.
Virginia Retirement System ’Slowing Down’ its Private Equity Investing
Above
target, plan makes no new commitments in May, but does back private credit and
real assets funds.
Rhode Island Fund Cleared to Invest in Private Equity and Private Credit
State
investment commission also approves new fund commitments as CIO prepares to
leave.
Virginia Retirement System Names New CIO
Junkin
will leave Rhode Island and replace Schmitz.
Institutions Grappling with Overallocation to Private Equity
As
the denominator effect hits more institutions than usual, it may crimp investors
and make it more difficult for GPs to raise funds.