Techniques are disclosed for managing memory within a virtualized system that includes a memory compression cache. Generally, the virtualized system may include a hypervisor configured to use a compression cache to temporarily store memory pages that have been compressed to conserve memory space. A “first-in touch-out” (FITO) list may be used to manage the size of the compression cache by monitoring the compressed memory pages in the compression cache. Each element in the FITO list corresponds to a compressed page in the compression cache. Each element in the FITO list records a time at which the corresponding compressed page was stored in the compression cache (i.e. an age). A size of the compression cache may be adjusted based on the ages of the pages in the compression cache.