A method manages memory paging operations. Responsive to a request to page out a memory page from a shared memory pool, the method identifies whether a physical space within one of a number of paging space devices has been allocated for the memory page. If physical space within the paging space device has not been allocated for the memory page, a page priority indicator for the memory page is identified. The memory page is then allocated to one of a number of memory pools within one of the number of paging space devices. The memory page is allocated one of the memory pools according to the page priority indicator of the memory page. The memory page is then written to the allocated memory pools.