Virginia Retirement System backs GIP, LS Power funds
Investors - SEPTEMBER 6, 2023

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Virginia Retirement System backs GIP, LS Power funds

by Kali Persall

The Virginia Retirement System (VRS) has disclosed $325 million of commitments to two real assets funds.

In a recent investment document, the pension fund shared recent commitments of $200 million to Global Infrastructure Partners Fund V, a closed-end commingled fund investing in global infrastructure, and $125 million to LS Power Equity Partners V (LSP V), a closed-end fund investing in power generation and energy-transition infrastructure assets in North America.

Global Infrastructure Partners V, managed by Global Infrastructure Partners (GIP) is seeking to raise $25 billion, according to GIP discussions in 2022 about the launch of the fund. As of May 2023, the vehicle had amassed $15 billion. The investment strategy of the predecessor fund was to invest in energy, transportation and wastewater infrastructure assets. Assets within the energy sector include midstream, renewables, utilities and LNG, while transportation assets include airports, ports and rail. Wastewat

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