Kansas Public Employees Retirement System (PERS) has committed capital to a data centre fund and an industrial fund, managed by Principal Real Estate Investors and LB Realty respectively.
The pension fund said it had approved an $85m commitment – via its non-core real estate portfolio – to the Principal Data Center Growth & Income Fund and placed $85m into the LBA Logistics Value Fund X fund.
As previously reported the Growth & Income Fund is currently raising capital, but the target amount is still unknown. The fund will invest in existing data centre assets and build a diversified portfolio across the US.
LBA’s Fund X targets non-core industrial assets in diversified markets around the US.
Kansas PERS also disclosed in its meeting document that it expects to invest up to $450m in real estate and up to $625m in infrastructure in 2025.
The pension fund’s 2025 real estate investment plan includes allocating $150m to core funds and $200m to $300m to non-core funds.
For infrastructure, which is part of the pension fund’s real assets portfolio, the strategy includes investing up to $400m to increase its exposure to existing funds in the current portfolio, with an additional $225m potentially earmarked for new fund relationships.
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