Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $76.9 billion
Allocation to alternatives: 28.8%
Virginia Retirement System approved a $135 million commitment to an industrial-focused joint venture with Carson Private Capital in July 2020, a contact at the pension informed PERE.
This is the third industrial joint venture with Carson that VRS has committed to, with the previous iteration raised in 2015.
The $76.9 billion US public pension has a 14.5 percent allocation to real assets. Of this, just under 60 percent is invested into private real estate.
As illustrated below, VRS’s real estate commitments tend to target either value-add or debt vehicles with a global investment focus.
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