Key Takeaways
- • The $135.2bn Virginia Retirement System plans to raise its private equity co-investment commitments to more than $750m per year, according to AltAssets Private Equity News.
- • The pension plans to expand its use of continuation vehicles as part of its private equity strategy.
- • The system's private equity portfolio is reported to be trailing its benchmark by 15 percentage points.
Summary
The Virginia Retirement System, which manages $135.2bn in assets, is planning to increase its private equity co-investments to more than $750m annually and to expand its use of continuation vehicles, according to AltAssets Private Equity News. The move comes as the pension's private equity portfolio trails its benchmark by 15 percentage points, per the headline of the report.
Co-investments, in which limited partners invest alongside general partners in specific deals, allow institutional investors to deploy capital directly into transactions, typically with reduced or no management fees and carry. Continuation vehicles, which allow general partners to transfer existing assets into new vehicles with fresh capital, have become an increasingly used tool for LPs seeking liquidity or extended exposure to high-performing holdings.
The full article is behind a paywall, so further detail on the allocation mechanics, timing, and the specific drivers of the benchmark shortfall could not be verified from the available source material. Readers seeking the complete analysis should consult the original AltAssets report.
Co-investments, in which limited partners invest alongside general partners in specific deals, allow institutional investors to deploy capital directly into transactions, typically with reduced or no management fees and carry. Continuation vehicles, which allow general partners to transfer existing assets into new vehicles with fresh capital, have become an increasingly used tool for LPs seeking liquidity or extended exposure to high-performing holdings.
The full article is behind a paywall, so further detail on the allocation mechanics, timing, and the specific drivers of the benchmark shortfall could not be verified from the available source material. Readers seeking the complete analysis should consult the original AltAssets report.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.