Alternatives

Kansas City Public School Retirement System commits to 2 private equity funds

Kansas City (Mo.) Public School Retirement System made commitments to Landmark Equity Partners XVI, a secondary buyout fund managed by Landmark Partners, and NB Crossroads Fund XXIII, a private equity fund of funds managed by Neuberger Berman.

The commitments were approved at the pension fund's Feb. 5 board meeting, recently released minutes said. The amounts of the commitments were not disclosed.

According to the pension fund's most recent comprehensive financial annual report, the pension fund's target allocation as of Dec. 31, 2016, was: 22.5% domestic equities; 15% international developed equities; 10% each, domestic core fixed income, emerging markets equities and real estate; 7.5% each, global tactical asset allocation and hedge funds; 5% each, commodities, international fixed income and private equity; and 2.5% high yield fixed income.

The pension fund had $618 million in assets as of Dec. 31, 2016, according to the annual report.

Investment consultant Segal Marco Advisors assisted.

Christine Gierer, executive director, could not be immediately reached to provide further information.