Kansas Public Employees Retirement System, Topeka, committed $50 million to TowerBrook Investors IV, a middle-market buyout fund managed by TowerBrook Capital Partners, and $40 million to Rockwood Capital Real Estate Partners Fund IX, a non-core real estate fund, confirmed spokeswoman Kristen Basso.
The $13.5 billion pension fund invested in the immediate predecessor funds of each manager, Ms. Basso said in an e-mail.
Separately, the board approved a new target asset allocation, which includes adding an 8% allocation to yield-driven investments. The remaining targets are 47% global equity, 15% fixed income, 11% each real return and real estate and 8% private equity.
The previous target allocations were 60% global equity, 15% fixed income, 12% real estate, 8% real return and 5% private equity.