The $100.3 billion Virginia Retirement System has placed $1.35 billion in two REIT accounts on behalf of its real assets strategy.
According to a recent investment document, VRS committed $830 million to Monroe and $520 million to Montalto, two internally managed U.S.-focused REIT accounts.
VRS has a 15.5 percent allocation to real assets, representing $15.6 billion of the total portfolio, as of Dec. 31, 2022.