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FUNDRAISING NEWS | December 18, 2024
Tags: Pension Funds
The Kentucky Public Pensions Authority (KPPA) is committing $100M to the ITE Rail Fund, per agenda materials from its December 17 board meeting.
The open-end fund focuses on railcar leasing and is expected to generate 6% to 9% net returns for the pension. KPPA said it is looking to access “mid-single digit annual income from asset leasing” via its investment in the fund over the long term, as well as “modest appreciation” from inflation-driven increases in lease rates and vessel replacement costs.
KPPA’s allocation to the ITE fund will fall under its real return portfolio, which currently holds a 9% allocation. The $25B pension said it is also evaluating and considering other real return strategies in transportation, sports, production-focused energy, energy credit or energy secondaries, mining credit, timberland, infrastructure, and dedicated commodities.
Written By: Dakota
October 30, 2024
October 16, 2024
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