Virginia commits $125m to Carlyle fund

The $72.4 billion Virginia Retirement System has committed $125 million to Carlyle Realty Partners VIII, according to spokeswoman Jeanne Chenault.

Carlyle Realty Partners VIII is an opportunistic real estate fund managed by The Carlyle Group. The fund opened in October 2016 with a $5 billion equity fundraising target, the largest target for Carlyle’s U.S. real estate fund series. The fund has raised $2.76 billion so far. The fund series focuses on acquisitions, value enhancements and dispositions of U.S. office, residential, senior housing, hotel and retail properties.

The fund has previously received commitments from the $12.7 billion School Employees Retirement System of Ohio and the $50.2 billion Pennsylvania Public School Employees’ Retirement System.

The fund’s predecessor, Carlyle Realty Partners VII, hel