Kansas Public Employees Retirement System, Topeka, will issue an RFP for a manager to run at least $100 million in a portfolio of short-duration high-yield bonds and bank loans, said Laurie McKinnon, general counsel.
The allocation will be part of the $14 billion pension fund's yield-driven asset class, which has a current 5% allocation and long-term target allocation of 8%.
A date for issuing the RFP has not been determined yet. It will be posted on the procurement page of the pension fund's website. No managers are expected to be terminated to fund the search, Ms. McKinnon said in an e-mail.
Separately, the pension fund committed up to $50 million to CCMP Capital Investors III, a buyout fund managed by CCMP Capital Advisors.
