VRS approves $120m commitment

The US public pension has backed iCON Infrastructure's fifth series flagship fund.

Institution: Virginia Retirement System
Headquarters: Richmond, United States
AUM: $85.40bn
Allocation to alternatives: 23.87%
Bitesize: $100-200m

Virginia Retirement System has approved a $120 million commitment to iCON Infrastructure Partners V, a contact at the pension informed Infrastructure Investor. The vehicle held a final close in March 2020 at $1.90 billion equity capital raised.

The $85.40 billion US public pension’s infrastructure allocation makes up around one fifth of its 13.20 percent real assets portfolio.

As illustrated below, VRS has made three commitments to infrastructure funds with a 2019 or 2020 vintage, which combined constitute $370 million.

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