The Virginia Retirement System has disclosed several new investments made in recent in June and July, as show in meeting materials from the August 18 board meeting.
In real estate, $250 million was committed to opportunistic fund, Blackstone Real Estate Partners X.
Within private equity, 11 new commitments were made.
$40 million was committed to Matrix Partners II, an early state, technology focused venture capital fund.
$200 million was committed to buyout fund, Advent International GPE X. The Fund will target North American and European markets.
$200 million was committed to buyout fund Apax XI. Apax XI targets companies in market sub-sectors with substantial growth tailwinds.
Middle market buyout fund, Audax Private Equity Fund VII was given a $200 million commitment.
$175 million was committed to buyout fund Green Equity Investors IX.
$100 million was committed to Thoma Bravo XV. The buyout fund targets businesses that provide application, infrastructure and security software products, and/or technology enabled services.
Veritas Capital Fund VIII was given a $150 million commitment. Fund VIII focuses on companies that provide technology-enabled solutions to government and commercial customers.
Apollo Investment Fund X was given a $200 million commitment. The Fund invests in opportunistic buyouts, corporate carve-outs, and distressed investments.
$150 million was committed to HIG Advantage Buyout Fund II, a middle market buyout fund. Fund II targets investments in stable North American companies.
$100 million was committed to Vista Equity Partners Fund VIII. The Fund makes control investments in enterprise software companies.
€120 million was committed to European middle market buyout fund, Bain Capital Europe VI.
As of June 30, 2022, the $101 billion Retirement System has an actual and target allocation to real assets of 15.1% and 14% respectively. The actual and target allocation to private equity was 18.8% and 14% respectively.
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