Virginia Retirement Funds invests in Stonepeak infrastructure fund and Brookfield Asset Management
The Virginia Retirement System (VRS) announced new commitments at its June 20 meeting.
For real assets, the nearly $60 billion retirement system chose to invest in North American infrastructure investor Stonepeak Infrastructure Partners and Brookfield Asset Management. The commitment values include $100 million each to Stonepeak and Brookfield.
VRS also decided to invest in the global energy-focused private equity and infrastructure investment firm First Reserve. First Reserve XIII was granted a $200 million investment.
All commitments were approved through the April-May period. According to VRS's Annual Report, 8 % of the funds in the portfolio are allocated to real assets.
In August 2012, VRS invested $300 million to IFM Global Infrastructure Fund, managed by Industry Funds Management, and $150 million to Global Infrastructure Partners Fund II, managed by GIP.
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