According to meeting materials from the February 8th board meeting, the Virginia Retirement System has approved five commitments to real assets, global equities, and hedge funds totaling $1.85 billion.
In real assets, $100 million was allocated to DigitalBridge Partners Fund III. An additional $200 million was allocated to PGIM Energy Separate Account.
In global equities, $500 million was allocated to WCM Global Growth.
Two hedge fund commitments were also disclosed, $700 million was allocated to VRS BLK Global Dynamic Allocation Strategy Fund and $350 million was allocated to MAS Global Dynamic Allocation Strategy Fund.
In addition to the new commitments, VRS provided updates on three internally managed low volatility investments.
Bearfence, a global low volatility equity strategy, was opened and funded with $5.5 billion.
Piedmont, a non-U.S. low volatility strategy, was closed with a value of $1.6 billion. Also closed was Mobjack, a U.S. Low volatility strategy, at a value of $3.4 billion.
As of November 30, 2023, the $106.5 billion Retirement Fund currently allocates 13.2% to real assets. 9.2% of the Fund is allocated to hedge funds. Lastly, 32.3% of the Fund is allocated to public equity.
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