Virginia Retirement System has added Crow Holdings to its real estate manager team via a commitment to the manager’s latest US value-add fund.

The $102bn (€88bn) pension fund said it has approved a $150m (€128.8m) commitment to Crow Holdings Realty Partners Fund IX as part of $2.6bn in capital commitments announced by Crow Holdings at the fund’s close last month.

The predecessor fund raised $1.3bn.

As previously reported, the South Carolina Retirement System, the Teachers’ Retirement System of Louisiana and the Illinois Municipal Retirement Fund have also backed the fund. 

The fund targets assets across the US, primarily in industrial and multifamily as well as in speciality sector opportunities like medical office, hotels, convenience/gas stations, student housing and self-storage assets.

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