Virginia earmarks $1 billion for 4 managers
Virginia earmarks $1 billion for 4 managers
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Virginia Retirement System, Richmond, announced commitments of $1 billion at a meeting Wednesday of its investment advisory committee.
In credit strategies, the $93.6 billion pension fund committed $400 million to
Whitehorse Liquidity Partners IV for a portfolio finance strategy.
In real assets, Virginia committed $125 million to Penwood Select Industrial Partners VI for a closed-end enhanced core fund investing in U.S. industrial properties managed by
Penwood Real Estate Investment Management, and $125 million to Harrison Street Real Estate Partners Fund VIII, a closed-end opportunistic fund investing in U.S. and Canada alternative property types, such as senior or student housing, managed by
West Hartford’s Penwood Real Estate Investment Management has launched its sixth industrial property investment fund with $381.5 million in freshly raised capital.
Penwood Select Industrial Fund VI will acquire and create industrial real estate properties in Southern California, New York and New Jersey, the firm said.
Penwood announced the sixth fund last month, but did not disclose the amount raised. That detail emerged in a Feb. 26 filing with the U.S. Securities & Exchange Commission.
Penwood was formed in 2003 and is led by its three owners Richard Chase, John Hurley and Karen Nista.
The firm’s fifth fund was launched in late 2017 after raising $325 million.
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