Virginia commits $318m to real estate
The Virginia Retirement System has committed $317.5 million to real estate, divided between three managers, confirms Jeanne Chenault, public relations director with VRS.
The largest commitment was for $150 million and went to the Capri/EGM joint venture, arecently formed joint venture entity between Capri Capital Partners and Equity Global Management that will implement aU.S.-focused, net-lease real estate strategy.
Another $110 million went to Blackstone Highline Property Co-investment Partners, a co-investment opportunity in a portfolio of office buildings. VRS has an extensive relationship with The Blackstone Group, having committed a combined $450 million into the Blackstone Real Estate Partners fund series, as well as committing $150 million to Blackstone Real Estate Partners Asia in March 2014 and $100 million to the core-plus, open-end Blackstone Property Partners in November 2014, according to