Kentucky Teachers’ Retirement System, Frankfort, committed $180 million total to three alternatives managers, said Gary Harbin, executive secretary.
The $18.1 billion pension fund and the retirement system’s $500 million medical insurance plan, which funds retiree health benefits, committed $50 million and $10 million, respectively, to each of the following funds: Carlyle Europe Partners IV, a midsize European buyout fund managed by Carlyle Group; Blackstone Real Estate Partners VIII, an opportunistic real estate fund managed by Blackstone Group; and Rockwood Capital Real Estate Partners X, a value-added real estate fund.
The pension fund made previous investments with all three managers.
The pension fund has a 5% real estate target allocation and 5% alternatives target, which includes private equity.
