Kansas Public Employees Retirement System (PERS) is planning to invest up to $500m (€421m) in real estate in 2021, according to a board meeting report by The Townsend Group.

The pension fund, which this year sought to redeem its investement in the UBS Trumbull Property Fund, plans to make net commitments of between $100m and $300m to core strategies.

Kansas PERS told IPE Real Estate that any new commitments would be made to funds in which it already has positions, including Morgan Stanley’s Prime Property Fund, LaSalle Property Fund, Jamestown Premiere Property Fund, Heitman America Real Estate Trust, JP Morgan Strategic Property Fund, PGIM Real Estate’s PRISA and CBRE US Core Partners.

The pension fund’s 2021 pacing plan also allows for $100m to $200m to committed to non-core real estate funds in the US.