Kansas Public Employees Retirement System, Topeka, committed up to $100 million total to two alternatives funds, spokeswoman Kristen Basso said in an email.
In real estate, the $18 billion pension fund committed up to $50 million to CBRE Strategic Partners U.S. Value 8, a value-added and opportunistic fund managed by CBRE Global Investors.
In private equity, the pension fund committed up to $50 million to TPG Growth Fund IV, a growth equity and buyout fund managed by TPG Capital.
Separately, the pension fund amended its investment management agreement with Payden & Rygel to include a strategic cash reserve strategy benchmarked to the Bank of America Merrill Lynch 1-3 year U.S. Corporate/Government Bond index, with an initial allocation of about $400 million.
The pension fund has an 11% real estate target and 8% alternatives target, which includes private equity.