State retirement system in Virginia
State retirement system, based in Virginia, reporting $114B in assets, for 655,064 participants.
Composed from this allocator's classification, location and filed figures.
What matters now
- $200Mapproved, 1 fund
$200M approved across 1 fund on Aug 14, 2026: ValueAct Strategic Global Fund II $200M.
Aug 14, 2026 · The board's newest commitments, the managers it is backing now.
- 2 managersterminated or on watch
A manager; A manager.
Sep 17, 2026 · A termination frees an allocation; a watch listing often comes before one.
This allocator's name, 10 more people, 14 more managers, 31 more commitments and 63 more dated events
Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.
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People to know
View all people- Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionEmail
Capital path
who backs this record, through what, into what; each name opens its own path- Andrew H. JunkinChief Investment Officer
- Andrew H. JunkinChief Investment Officer
- A. Scott AndrewsChair
- LS Power Fund VI$200M committed
- Apollo Investment Fund XI$200M committed
- Lead Edge Capital Fund VII$150M committed
- Barings LLC$750M across 1 commitment
- Ares$700M across 2 commitments
- Apollo$350M across 2 commitments
Relationship network
64 connected entities34 observed commitments4 repeat counterparties$7.2B disclosed commitments (31 commitments)7 dated commitments shown here, 2026
From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.
- Sponsor
- Fund or vehicle
- Service provider
- Person
›How strength and recency are read
Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
Size, funding, policy and commitments, with their basesState retirement systemShowHide
Allocation policy
| Asset class (as printed) | Bucket | Target | Range | Actual | Gap | Basis |
|---|---|---|---|---|---|---|
| Cash | Cash | 2.0% | 1.8% | -0.2 | reported source on record | |
| Fixed Income | Fixed income | 16.0% | 15.2% | -0.8 | reported source on record | |
| Diversifying Strategies | Hedge / diversifiers | 6.0% | 4.1% | -1.9 | reported source on record | |
| Leverage | Other | -3.0% | -1.2% | +1.8 | reported source on record | |
| Credit Strategies | Private credit | 16.0% | 15.2% | -0.8 | reported source on record | |
| PIP – Private Investment Partnerships | Private equity | 1.0% | 1.8% | +0.8 | reported source on record | |
| Private Equity | Private equity | 15.0% | 16.0% | +1.0 | reported source on record | |
| Public Equity | Public equity | 32.0% | 33.6% | +1.6 | reported source on record | |
| Real Assets | Real assets | 15.0% | 12.7% | -2.3 | reported source on record |
- Exposure Management Portfolio 0.8%
Consultants and advisers
- Mercer General consultantthrough Feb 5, 2026 Board minutes
- Bank of New York Mellon Custodianthrough Jun 30, 2025 ACFR
- Gabriel, Roeder, Smith & Company (GRS) Actuarythrough Jun 30, 2025 ACFR
People
- Andrew H. Junkin · Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibilityWork email on file (the allocator's own staff page), confirmed 2026-09-30, confidence 90%
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 1 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
- A. Scott Andrews ChairBoard chair
+10 more people on the investment staff and board
Every name, title and published role at this allocator, with the page it was read from.
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Manager roster
- Barings LLC$750M, 1 row, latest Apr 8, 2026
- Ares$700M, 2 rows, latest Apr 23, 2026
- Apollo$350M, 2 rows, latest Aug 12, 2026
+14 more managers received commitments
Every name, record and relationship behind this count, with the source on each.
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What changed
- Sep 17, 2026Manager terminatedsource on record
- Aug 14, 2026Commitment closed$200Msource on record
- Aug 12, 2026Commitment approvedwith EQT$150Msource on record
- Aug 12, 2026Manager terminatedsource on record
- Aug 12, 2026Commitment approved$200Msource on record
+63 more dated events
Every name, record and relationship behind this count, with the source on each.
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Commitments
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026 | ValueAct Strategic Global Fund IIco investment | ValueAct | Public equity | $200M | Committed (dated) | source on record | |
| as of Aug 12, 2026 | Blue Owl Real Estate Fund VII | Blue Owl | Private credit | $300M | Approved | source on record | |
| as of Aug 12, 2026 | International Farming Corporation Separate Accountseparate account | International Farming Corporation | Real assets | $229M | Approved | source on record |
+31 more commitments
Every fund and manager this allocator committed to, with the amount, date and source on each.
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Size and funding
Commitment history
How the history is foldedOne line per vehicle, folded across the board’s own minutes and the plan’s later reports: when the item was proposed or recommended, when the board approved it, when the closing was dated, and when the position first showed up in a report. A line is closed only when a closing date exists; held means the plan reports the position without one on this graph.| Vehicle | Manager | Amount | State | Proposed | Approved | Closed | First reported | Other LPs |
|---|---|---|---|---|---|---|---|---|
| PIMCO Multi-Strategy Custom Mandate | n/a | $500M | approved | - | Apr 23, 2026 | - | - | - |
| Stonepeak Opportunities Fund II LP | Stonepeak | $100M | approved | - | Apr 23, 2026 | - | - | - |
| BlackRock GAO | n/a | $300M | approved | - | Apr 23, 2026 | - | - | - |
+30 more board decisions
Every name, record and relationship behind this count, with the source on each.
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Provenance
Provenance
Not yet on record: funded ratio.
This record sits on 29 traced paths of capital across the graphs.
DFX traced 29 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
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Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Manager terminated2026-09-17source on record
- Commitment made2026-08-14source on record
- Commitment approved2026-08-12source on record
+65 more changes on this record's ledger
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The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.
›Connections
every published relationship on the graph
+10 connections on the graph
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