The Virginia Retirement System (VRS) has committed $200 million to QuadCP Fund II, a vehicle of Quad Capital Partners. This commitment was effective on Nov. 1, according to meeting materials from VRS.
QuadCP Fund II is a closed-end fund focused on opportunistic real estate in the United States. This fund follows QuadCP Fund I, which previously secured $200 million from VRS in 2022. A fundraising target for QuadCP Fund II could not be determined at the time of publication.
VRS is a public pension fund that provides retirement and other benefits to public sector employees in Virginia. As of June 30, it had total assets of $113.9 billion, with a target allocation of 14 percent to real assets, which includes real estate. VRS currently has $14.1 billion, or 12.4 percent of plan assets, in real assets.
