Updated with correction
Kentucky Retirement Systems, Frankfort, committed a total of $295 million to six managers, said T.J. Carlson, chief investment officer.
The $14.7 billion pension fund committed $123 million to two real-return funds — $73 million to Magnetar MTP Energy Fund, managed by Magnetar Capital, and $50 million to Red Kite Mine Finance Fund I, a late-stage mining finance fund managed by the Red Kite Group.
It also committed €50 million ($65 million) to CVC Fund VI, a Western European buyout fund managed by CVC Capital Partners, and $40 million to Bay Hills Emerging Partners III, an emerging managers private-equity fund of funds managed by Bay Hills Capital.
On the real estate side, KRS committed $37 million to H/2 Core Real Estate Debt Fund, a lending fund managed by H/2 Capital Partners, and $30 million to Rubenstein Properties Fund II, a fund managed by Rubenstein Partners that focuses on office property on the East Coast of the U.S.
This is the pension plan's second investment with H/2 and fourth with Bay Hills; the others are first-time commitments.
Separately, Mr. Carlson said the pension plan is wrapping up invitation-only searches for active international and emerging markets equity conducted by investment consultant R.V. Kuhns. The allocation sizes have not been determined as the board is looking to restructure the non-U.S. equity portfolio. Hiring decisions are expected in November after the new structure is in place, Mr. Carlson said.
