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VRS confirms $525m in commitments

The US public pension has backed three private real estate vehicles.

Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $107.2 billion

Virginia Retirement System has confirmed $525 million in commitments across three private real estate funds, according to its February investment advisory committee meeting.

The pension committed $200 million each to QuadCP Fund I and Blackstone Real Estate Partners Asia III. A further $125 million was committed to Artemis Real Estate Partners Fund IV.

VRS’s current allocation to private real estate sits at 7.4 percent and as illustrated below, the US public pension’s recent real estate commitments have concentrated on diversified sector and strategy vehicles focused on North American investments.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.