Kansas Public Employees Retirement System, Topeka, hired Franklin Advisers to manage $100 million in short-duration high-yield bonds and bank loans, spokeswoman Kristen Basso said in an-e-mail.
Franklin Advisers is a subsidiary of Franklin Resources. An RFP was issued in October.
Separately, the board committed up to $50 million to Ares Special Situations Fund IV, a private equity fund managed by Ares Management and up to $40 million to Greystar Equity Partners VIII, a real estate fund managed by Greystar Investment Management, Ms. Basso wrote.
Also, the $16 billion pension fund hired Great-West Retirement Services as bundled provider for its 457 deferred compensation plan.
The plan has about $1 billion in assets. Great-West will provide plan administration, record keeping, education and communication, according to a KPERS' news release.
An RFP was issued in December due to KPERS' expiring contract with ING U.S. Retirement Solutions, which was invited to rebid.
The contract with ING U.S. Retirement Solutions expires Dec. 31. The contract with Great-West Financial would begin Jan. 1, 2015, pending negotiations, according to the news release.
Consultant Arnerich Massena assisted.