VRS approves $125m commitment

The US public pension has backed a multi-regional opportunistic real estate fund.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $75.80bn
Allocation to alternatives: 27.00%

Virginia Retirement System (VRS) has agreed to commit $125 million to Westbrook Real Estate Partners IX, a contact at the firm informed PERE. This is the second fund in the series that VRS has committed to.

The $75.8 billion US public pension’s current allocation to real estate stands at 8.63 percent.

As illustrated in the charts below, VRS tends to pursue investments in opportunistic real estate funds. The pension has made three commitments to real estate funds with a 2018 vintage, totalling $377 million.

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