Kentucky Teachers' Retirement System, Frankfort, committed $60 million to TA Realty Associates Fund XI, 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 the value-added real estate fund.
The pension fund and medical insurance plan previously committed to predecessor fund TA Realty Associates Fund X.
Also, several changes were made to the pension fund's target asset allocation. The revised targets are 37% domestic large-cap equity, down from 38%; 20% international equities, up from 19%; 16% fixed income, down from 17%; and 6% alternatives from 5%.
Targets that will remain the same are 9% “additional categories,” 5% real estate, 3% domestic midcap equity, and 2% each domestic small-cap equity and cash. “Additional categories” includes areas such as high-yield bonds and credit.
