Kansas Public Employees Retirement System (PERS) has approved $355m (€324.2m) worth of commitments to real estate, forestry and infrastructure funds.
The pension fund said it has made a $75m commitment to the LaSalle Property Fund, placed $210m into the Lyme Forest Fund VI and approved a $70m commitment to the JP Morgan Infrastructure Investments Fund.
The commitment to the LaSalle Investment Management fund is the fifth investment by the Kansas PERS into the open-ended vehicle. Previous allocations include $100m in 2010, $60m in 2017, $65m in 2019, and $125m in 2022.
The LaSalle fund focuses its US investments in traditional sectors such as office, industrial, retail and apartments, as well as specialty assets including single-family rentals, medical offices and self-storage.
The commitment to the Lyme Timber Company-managed forestry fund was funded through a reallocation of capital within the pension fund’s existing real estate investment trust portfolio.
The open-ended forest fund focuses on natural forest investment opportunities in the US.
The JP Morgan fund targets infrastructure investments in renewable energy, water, natural gas, electric utilities and transportation sectors. The fund’s portfolio includes assets in the US and continental Europe.
Kansas PERS disclosed in a meeting document that it has reversed its decision on a recently approved $85m real estate commitment to the Principal Data Center Growth and Income Fund due to an inability to agree on contract terms.
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