Kentucky Teachers' Retirement System, Frankfort, committed $180 million total to four alternatives funds, said Gary Harbin, executive secretary.
The $17 billion pension plan committed $75 million to Marathon European Credit Opportunity Fund, managed by Marathon Asset Management. The fund primarily focuses on financial institutions in Europe that are cleaning up their balance sheets, Mr. Harbin said.
The pension fund also committed $35 million each to Fort Washington Private Equity Investors VIII, a private equity fund of funds focusing on smaller deals and managed by Fort Washington Investment Advisors; Lexington Capital Partners VIII, a secondary private equity fund managed by Lexington Partners; and Carlyle Global Financial Services Partners II, a financial services fund managed by Carlyle Group.
The pension plan has previous investments with all four managers, Mr. Harbin said.
The system's $450 million Medical Insurance Plan, which funds retiree health benefits, also committed $10 million to the Fort Washington fund and $5 million to the Marathon offering.
