Institution: Kansas Public Employees Retirement System
Headquarters: Topeka, United States
AUM: $23.64bn
Allocation to alternatives: 17.6%
Kansas Public Employees Retirement System approved at its September board meeting an additional commitment of up to $100 million to PRISA, PGIM Real Estate’s flagship open-end core property fund.
KPERS had previously committed $235 million to PRISA. The $100 million additional commitment is aimed at gradually increasing the retirement system’s allocation to real estate. Its real estate portfolio currently stands at $2.1 billion.
The $23.64 billion US public pension currently allocates 8.7 percent of its investment portfolio to real estate. Alternative investments constitute 17.6 percent of the institution’s entire portfolio.
As illustrated below, KPERS’ recent real estate commitments have primarily focused on North American vehicles targeting value-add returns.
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