Virginia Retirement System (VRS) recently committed $200 million to MV Real Estate SMA I, an investment program managed by Meadow Partners. This commitment was made on Sept. 19, according to the VRS Board of Trustees meeting materials document.
MV Real Estate SMA I is a closed end, separate account focused on core, diversified properties in the global market, specifically global gateway cities. It has a one-year funding period.
This commitment follows two other VRS real assets investments, including $45 million to Affinius US Eagle Real Estate Fund and $150 million to Carlyle Realty Fund X.
VRS is a public pension fund that delivers retirement and other benefits to Virginia public sector employees. As of Sept. 11, VRS had $114.8 billion in total assets, 10 percent of which were allocated to real estate assets. As of Dec. 31, 2023, VRS had $9.2 billion in real estate assets.
