VRS backs Apollo Global Management fund

The pension has committed to a North America-focused Apollo fund.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $81.6 billion
Allocation to alternatives: 24.8%

Virginia Retirement System has committed $50 million to Apollo US Real Estate Fund III, according to October board meeting notes.

The Apollo Global Management fund invests in multiple sectors in North America and is targeting $1 billion in commitments.

VRS’s private real estate asset class makes up 8.2 percent of the pension’s $81.6 billion investment portfolio. As illustrated below, Virginia Retirement System commits to funds focused on a range of regions and sectors.

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