VRS pledges $1bn to Carlyle fund

The US pension has pledged a commitment to Carlyle Diversified Credit fund.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $81.6 billion
Allocation to alternatives: 24.8%

Virginia Retirement System has pledged to commit up to $1 billion to Carlyle Diversified Credit fund, according to October meeting notes. The fund will invest opportunistically and focus on private credit investments.

As illustrated below, the institution’s credit strategies constitute 13.8 percent of its total investment portfolio. VRS typically invests in funds that leverage senior debt and distressed debt strategies.

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