Kansas Public Employees Retirement System committed to private equity and real estate funds focused on European and North American investments at its July meeting,
The system pledged up to 45 million euros ($50 million) to Montagu Private Equity’s sixth fund, according to Communications Officer Kristen Basso.
Montagu invests between $114 million and $1.14 billion in companies in the manufacturing, transport, logistics, healthcare, waste management, business services and web-hosting services sectors, according to its website.
KPERS also approved a $65 million investment in LaSalle Investment Management’s Property Fund, which targets the real estate sector, having invested in assets in New York City, Chicago and Washington, DC, according to its website.
Target size for both funds wasn’t available.
KPERS’s real estate allocation is 9.6 percent on an 11 percent target, according to a KPERS investment report.
Private equity made up $1.4 billion, or 7.3 percent of Kansas’ portfolio, as of February 2019, Active LPs previously reported. The system set an 8 percent target for private equity.