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Kentucky Teachers earmarks $120 million for 2 manager

Kentucky Teachers' Retirement System, Frankfort, committed $120 million total to two alternative funds, said Gary Harbin, executive secretary.

The $18.1 billion pension fund and the retirement system's $742 million medical insurance plan committed $50 million and $10 million, respectively, to Carlyle Global Financial Services Partners III, a financial services fund managed by Carlyle Group.

The pension fund and medical insurance plan also committed $50 million and $10 million, respectively, to NGP Natural Resources XII, managed by NGP Energy Capital Management.

KTRS has previously invested with both managers.

The pension fund's alternatives target is 9%. The current allocation is 7.8%.