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KPERS confirms $250m in commitments

The US public pension has backed a pair of U.S.-focused real estate vehicles.

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.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.