Partner
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Benton and his colleagues have negotiated investment contracts with many private equity, real estate, and hedge funds on behalf of our public pension system clients, such as the Virginia Retirement System, South Carolina Retirement System Investment Commission, Contra Costa County (CA) Employees Retirement Association, San Jose Federated Employee Retirement System, San Jose Police & Fire Retirement Plan, Santa Barbara County Employees Retirement System, Ventura County Employees Retirement Association, Fairfax County School Employees Retirement System, Norfolk Employees’ Retirement System, and Richmond Retirement System. Benton has been the primary outside investment and securities counsel for the Virginia Retirement System (VRS) since 1995. He has represented VRS in more than 900 private equity transactions and numerous swap transactions, totaling in excess of $120 billion. Additionally, Benton worked on the commencement of the hedge fund investment program and reviewed more than 120 hedge fund transactions where VRS has invested in excess of $1.6 billion. He has negotiated more than 350 investment advisory agreements and 900-plus partnership agreements where VRS is a limited partner in private equity transactions, strategic partnerships, real estate funds, buyout funds, rental asset funds, credit funds, real asset funds that include oil, gas, timber, infrastructure, and energy, loan funds, venture capital funds, and distressed funds. Benton has represented the cities of Norfolk and Richmond, Virginia, retirement systems in their alternative investment programs. Benton has also represented the South Carolina Retirement System in more than 100 transactions in private equity and real estate private equity funds where it is an investor. Benton has also completed more than 70 transactions for the San Jose Pension Funds in private equity and real estate, as well as big private equity funds, hedge funds, and investment management contracts. In addition, Benton has represented Contra Costa County Employees’ Retirement Association in more than 100 transactions. Benton has also represented Frank Russell Capital in private equity work in its direct and separate funds, and in funds-to-funds transactions of 130 private equity transactions in the past several years. Benton has worked with other clients in the creation of hedge funds, provided advice on newly created private equity funds as part of a master feeder program, and formed more than 10 investment funds for in excess of $600 million in fund raising. In addition, Benton has performed representation on specific issues for Federated Investors and investment work for the University of Virginia, Georgetown University, and Old Dominion University Foundation.
