Institution: Kansas Public Employees Retirement System
Headquarters: Topeka, United States
AUM: $21.14bn
Allocation to alternatives: 17.3%
Bitesize: $50-100m
Kansas Public Employees Retirement System has approved $250 million-worth of real estate commitments, a contact at the pension informed PERE. The commitments comprise of $200 million to CBRE Global Investor’s 2013-vintage open-ended U.S. Core Partners fund, alongside $50 million to Waterton Residential Property Venture XIV.
KPERS is a repeat investor to Waterton’s flagship value-add fund series, having previously committed to funds XI and XIII as well.
The $21.14 billion US public pension has a 13.0 percent target allocation to real estate that currently stands at 9.50 percent.
As illustrated below, KPERS has made three commitments to real estate vehicles with a 2019 or 2020 vintage, which combined constitute $155 million.
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