Kentucky Public Pension Authority has committed an additional $100m (€85.2m) to the Industrial Transportation Equipment open-ended railcar leasing and management fund.
The pension fund disclosed in a board meeting document that the capital has been placed into the ITE Rail Fund, following an initial $200m combined commitment made across the authority’s portfolios in December 2024.
Following the full deployment of the initial capital last October, Kentucky Public Pension Authority is committing further funds to a time-sensitive transaction it believes is a very attractive investment.
The ITE Rail Fund outperformed its target net return of 6% to 9%, achieving 9.3% over one year and 10.6% since its inception in October 2014.
According to Kentucky Public Pension, the ITE Rail Fund held approximately 121,000 rail cars with an estimated value of $10.1bn as of the end of 2025.
The fund leases railcars in North America for the transportation of over 500 dry and liquid cargoes, including food, fuel, vehicles and chemicals.
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