Kansas Public Employees Retirement System (PERS) has doubled down on a decade-long relationship with JP Morgan by committing an additional $150m (€128.1m) to the manager’s open-ended global infrastructure fund.
The pension fund’s follow-on allocation to the JP Morgan Infrastructure Investments Fund (IIF) builds on the relationship that began in May 2016 with a $100m commitment. This was then expanded with other commitments of $50m in March 2018 and $70m in March last year.
Kansas PERS said the previous investments in the open-ended IIF have produced a gross return of 9% since the inception of the relationship.
JP Morgan declined a request for comment.
The $29bn pension fund, with a $450m infrastructure pacing plan for 2026, expects to increase its infrastructure portfolio by moving towards an interim target of 5% with a long-term goal of 8%.
As of September 2025, infrastructure represented 44.7% of the pension fund’s $1.4bn real assets portfolio, which also includes a 38.6% allocation to real estate investment trusts and a 16.6% allocation to timber.
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