Virginia Retirement Places Over $700M to Credit, RE, Real Assets

The Virginia Retirement System has allocated more than $4 billion through September to various fund managers, primarily in credit, real estate, and real assets, with additional minor commitments to other diversified strategies.

Apollo Global Management received a $500 million commitment to Apollo Libra, a separately managed account concentrating on opportunistic credit. Officials revealed that the investment’s funding period is anticipated to exceed three years.

NISA Investment Advisors, which focuses on investment-grade fixed income, derivative overlays, and index-like equity investment portfolios, received a $37.5 million allocation for their NISA Alpha Strategies offering.

The $115 billion pension system allocated $200 million to an AMLI Residential investment within its real assets program. AMLI Residential III is a partnership with an apartment operator concentrating on core, class A properties in specific target markets across the U.S.