The $74.4 billion Virginia Retirement System has committed $150 million to AgIS Capital to manage a farmland separate account, AgIS Farmland Separate Account, according to Jeanne Chenault, public relations director at the pension fund.
All of the capital committed will be used to invest in U.S farmland assets.
The pension fund is trying to revamp its asset portfolio. In February, Virginia Retirement System also committed $125 million to International Farming Corporation’s U.S. Farming Realty Trust III.
As of June 30, 2017, Virginia Retirement System’s actual allocation to real assets was 12.6 percent, making up $9.4 billion of its total portfolio.
