VRS confirm $500m commitment

The US public pension has backed Oak Hill Advisor's private credit strategy.

Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $103.2 billion

Virginia Retirement System confirmed a $500 million commitment to a private debt fund managed by Oak Hill Advisors at its October 2021 investment advisory committee meeting. The pension committed to Oak Hill Diversified Credit, a vehicle that targets corporations in Europe and North America.

VRS has a 14 percent target allocation for credit strategies, which stands at 14.2 percent as of October 2021.

As illustrated below, the $103.2 billion US public pension’s recent private debt commitments have concentrated on corporate sector funds focused on North American investments.

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