VRS allocates $1.2bn to credit, real assets

The $105 billion Virginia Retirement System allocated a combined $1.2 billion across five funds with investments centered on global private credit and real asset strategies.

Two private credit funds were selected for the growing $15 billion portfolio. The investments closed in December but were announced at trustees' February board meeting.

Credit funds added were HPS Strategic Investment Partners V, a fund focused primarily on subordinated debt investments in larger companies. VRS committed $350 million to the HPS fund. A second allocation totaling $325 million was made to Ares SSG Capital Partners VI, a private . . .

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