Kentucky Teachers' Retirement System, Frankfort, committed a total of $60 million to NGP Natural Resources XI, a private equity fund managed by NGP Energy Capital Management, at its May 22 investment committee meeting, said Gary Harbin, executive secretary.
The retirement system's $17.5 billion pension fund committed $50 million to the offering, while the system's $490 million Medical Insurance Plan, which funds retiree health benefits, committed $10 million.
Separately, the Medical Insurance Plan committed $10 million to the KTRS Credit Fund, managed by Marathon Asset Management.
The pension fund previously committed $225 million to the fund.
The KTRS board will ratify the investment committee's actions from May 22 at its June 16 meeting.