Kansas Public Employees Retirement System, Topeka, committed about $121 million total to two alternatives funds, spokeswoman Kristen Basso said in an e-mail.
The $16 billion pension fund committed €65 million ($71 million) to Montagu V, a buyout fund that focuses on investments in Northern Europe and is managed by Montagu Private Equity.
The pension fund board also approved an additional commitment of up to $50 million to J.P. Morgan Strategic Property Fund. KPERS originally committed $125 million to the open-end core real estate fund in 2013.
Separately, KPERS is in the beginning stages of an asset-liability study. Ms. Basso said the pension fund conducts a study every three to five years.
KPERS’ long-term target allocation is 23.5% each domestic equity and international equity, 14% fixed income, 11% each real estate and real return, 8% each alternatives and yield-driven investments, and 1% cash.