VRS approves $75m commitment

The US public pension has backed Harrison Street's 2011-vintage open-ended core vehicle.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $85.40bn
Allocation to alternatives: 23.87%
Bitesize: $100-200m

Virginia Retirement System has approved a $75 million commitment to Harrison Street Real Estate Capital’s open-ended Core Property Fund, a contact at the pension informed PERE.

The $85.40 billion US public pension’s private real estate allocation makes up around three-fifths of of its 13.20 percent real assets portfolio.

As illustrated below, VRS has made three commitments to private real estate vehicles with a 2019 vintage, which combined constitute $384 million.

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