By Muskan Arora
The $118.4B Virginia Retirement System disclosed
new commitments of up to $375M within its real assets and credit strategies
portfolio in April.
Within real assets, the pension plan committed
$100M to True Green Capital Fund V, closed-end infrastructure fund investing in
renewable energy assets in the US and Europe.
True Green’s Fund IV reached a final close
in June 2022 and raised $660M. Fund V has a fundraising budget of $1B.
The manager is known for investing in
distributed, commercial and industrial solar-powered generation projects,
batteries and microgrids.
Additionally, the pension plan also committed
$275M to HPS SIP VI, within its credit strategies portfolio.
The fund focused on mezzanine and other
subordinate financing to large corporate borrowers.
Multiple plans including Fresno County
Employees’ Retirement System and Arkansas Local Police and Fire Retirement
System are also invested in the new direct lending fund.
Most recently, the
plan also indicated working towards hiking its allocation to infrastructure
portfolio leverage options.
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