Kansas Public Employees Retirement System (PERS) has topped up its investment in LaSalle Investment Management’s flagship core open-ended US property fund.
Kansas PERS said it has approved a $125m (€123.5m) commitment to LaSalle Property Fund, a vehicle the pension fund has been backing since 2010.
As of the end of last year, the pension fund’s investment in the LaSalle fund was valued at $312m. The investment makes up 15% of the pension fund’s $2.1bn core open-ended real estate portfolio comprising of eight funds.
The fund acquires office, industrial, retail and apartments with some exposure to speciality property types like single-family rental, medical office buildings and self-storage assets.
LaSalle did not respond to a request for comment.
Kansas PERS also said it has approved a $65m commitment to the EQT Exeter Industrial Value Fund VI, a US-only value-add fund.
As previously reported, EQT Exeter is seeking to raise $5bn for the industrial real estate fund.
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