Kansas Public Employees Retirement System, Topeka, hired Adrian Lee & Partners to provide currency overlay management services covering about $1.8 billion in international developed markets currency exposure, pending successful contract negotiations, said spokeswoman Kristen Basso in an e-mail.
In July, the $16 billion pension fund launched a search for a firm to complement a $1.8 billion currency overlay program provided by Insight Pareto. Currency hedging is limited to the pension fund’s $3.6 billion developed markets equity portfolio.
Investment consultant Pension Consulting Alliance assisted with the search.
Separately, the pension fund committed up to $75 million to Warburg Pincus Private Equity XII and $40 million to Rockwood Capital Real Estate Partners X, Ms. Basso wrote.
The pension fund has committed to previous Warburg Pincus and Rockwood Capital funds.
As of Sept. 30, KPERS had 10% and 5% target allocations to real estate and private equity, respectively.
