FUNDRAISING NEWS | November 26, 2024
The Kansas Public Employees Retirement System (PERS) released its private equity commitment pacing plan for 2025 and plans to make a $170M allocation across two value-add real estate funds, according to materials related to its November 21 board meeting.
On the 2025 pacing plan for its private equity program, the pension is targeting a commitment range of $650M to $750M to maintain the new target allocation of 11%, which was increased from the previous weight of 9%. The overall target amount would be parcelled between six to eight funds, each receiving commitments of $90M to $120M. As of September 30, the pension said its current private equity allocation stands at 10%, with $555M in commitments approved across eight funds.
Per recommendation memos by the pension’s Deputy Chief Investment Officer for Private Markets Dean Roney, the Kansas retirement system is also looking at a commitment of $85M each to LBA Logistics Value Fund X-A and Principal Data Center Growth & Income Fund that will “aid to migrate the portfolio toward the target allocation mix of 75% core [and] 25% non-core.”
Townsend serves as real assets consultant and Mercer as private equity consultant for Kansas PERS. According to Dakota data, the retirement system manages a total of $27B in plan assets.
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