Kansas Public Employees Retirement System (PERS) has made a $50m (€42.5m) commitment to AEW Capital Management’s latest opportunistic real estate fund.
The latest commitment to the AEW Partners Real Estate Fund IX fund, together with a previously reported $50m commitment to Waterton Residential Property Venture XIV value-add apartment fund, means Kansas PERS is close to achieving its $110m non-core real estate investment target for 2020.
As previously reported, the AEW Partners fund targets a $750m fundraise.
Kansas PERS also has a $350m core real estate investment plan for this year. Kansas PERS has so far committed $200m to the CBRE US Core Partners fund as part of the pension fund’s core investment strategy.
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