VRS confirms $750m in commitments

The US public pension has backed three private debt vehicles in its latest round of commitments.

Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $76.90 billion
Allocation to alternatives: 28.80%

Virginia Retirement System approved $750 million-worth of private debt commitments at its June 2020 investment advisory committee meeting, a contact at the pension informed Private Debt Investor.

The commitments included $300 million apiece to SSG Secured Lending Opportunities III and Farallon Special Situations Master Fund, as well as $150 million to Taurus Mining Finance Fund II.

The $76.90 billion US public pension allocates to private debt and distressed debt from its 13.80 percent credit strategies portfolio.

As illustrated below, VRS’s private debt commitments tend to focus on North American senior debt vehicles.

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