Kansas Public Employees Retirement System, Topeka, committed up to $300 million total to three alternatives funds, said Alan Conroy, executive director, in an e-mail.
In real estate, the $16 billion pension fund committed up to $175 million to PRISA, a core real estate fund managed by Prudential Real Estate Investors.
In private equity, the pension fund committed up to $75 million to Ares Corporate Opportunities Fund V, managed by Ares Management, and up to $50 million to Snow Phipps III. The pension fund has committed a total of $95 million and $25 million, respectively, to other Ares and Snow Phipps funds.
The pension fund has a 10% real estate target allocation and 5% private equity target.