UNITED STATES - Kansas Public Employees Retirement System has made a $100m (€73.5m) allocation to the LaSalle core commingled US Property Fund.
According to pension fund officials, there were several factors considered when investing, but Kansas PERS is concerned in particular with taking conservative investments, given the state of the US economy.

The open-ended commingled fund contains no assets as yet  but LaSalle is hoping to buy properties that have fallen by at least 40% over the past couple of years.

The investment is part of an initial $1.65bn capital-raising for the US Property Fund, and Kansas PERS is not the only pension fund investor as Ohio Police & Fire Pension Fund has contributed $60m.

Prior to this commitment, Kansas PERS was well short of its targeted allocation to real estate. 

The pension fund had invested 5.5% of its 10% allocation in real estate, and had previously  invested in just one other core commingled fund: the Prime Property Fund managed by Morgan Stanley Real Estate.