Virginia pension adds more than $1bn to alts

The $103 billion Virginia Retirement System in Richmond hired managers across its private credit, private equity and real asset portfolios in the last month, according to recent trustee meeting documents.

The majority of capital, $750 million, went to private credit strategies, which has $14.7 billion in total assets. Funds added were the Oak Hill Diversified Credit ($500 million) and Whitehorse Liquidity Partners V ($250 million). The Oak Hill fund invests opportunistically across credit markets, with a specific focus on private credit investments. Meanwhile, the Whitehorse fund is a portfolio finance strategy whose preceding fund closed back . . .

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