Virginia pension fund backs Fortress’ Japan distress vehicle
Virginia Retirement System (VRS) has committed to $50 million to Fortress Investment Group’s Japan Opportunity Fund II, a distress-focused vehicle that closed last December at its hard cap of JPY130 billion ($1.65 billion).
The allocation came out of VRS' real assets program. There was a further $299 million in private equity commitments, of which $200 million went to a global co-investment fund operated by HabourVest Partners....
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