VRS approves $100m commitment

The US public pension has backed Colony Capital's latest digital infrastructure offering.

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Institution: Virginia Retirement System
Headquarters: Richmond, US
AUM: $85.10 billion
Allocation to alternatives: 24.2%

Virginia Retirement System confirmed a $100 million commitment to Digital Colony Partners II at its December 2020 board meeting, a contact at the pension informed Infrastructure Investor.

Digital Colony, Colony Capital’s digital infrastructure arm, is in market with its second fund targeting $6 billion in equity capital. The vehicle’s predecessor held a final close in June 2019 at $4.05 billion.

VRS’s infrastructure portfolio is housed within its other real assets asset class, which makes up 4.1 percent of the pension’s full portfolio offering.

As illustrated below, VRS’s recent infrastructure commitments have tended to target global vehicles focused on investments in a variety of sectors including telecoms, transport, energy and utilities.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.