An information handling system includes first and second servers, and a storage controller. The storage controller to initialize a first virtual function for the first server, to initialize a second virtual function for the second server, to assign equal amounts of a first portion of a memory to the first and second virtual functions, to profile an input/output workload of the first and second virtual functions, to allocate amounts of a second portion of the memory to the first and second virtual functions based on a first input/output profile of each of the virtual functions, and to allocate a remaining portion of the memory as a global section of the memory for use by any of the virtual functions.