1. A system comprising: a cache manager to: create a first cache region associated with an application, the application running on a plurality of virtual machines, a first one of the plurality of virtual machines having a local memory cache that is private to the first one of the plurality of virtual machines and a shared memory cache that is shared by the first one of the plurality of virtual machines and a second one of the plurality of virtual machines; and associate the first cache region with a first storage policy, the first storage policy specifying an object to be stored in the first cache region is to be stored in the local memory cache and that a garbage collector is not to remove the object from the local memory cache.