Kansas Public Employees Retirement System, Topeka, approved up to $225 million in commitments to four alternatives funds, said Kristen Basso, spokeswoman for the $18.8 billion pension fund, in an email.
The pension fund's board approved a commitment of up to $75 million to TowerBrook Investors V, a leveraged buyout fund managed by TowerBrook Capital Partners. This is the fourth time the board has committed to a TowerBrook fund.
The board also approved commitments of up to $50 million each to Waterton Residential Property Venture XIII, a real estate fund managed by Waterton Associates that invests in multifamily properties in major U.S. markets; IFM Global Infrastructure Fund, an open-end core infrastructure fund managed by IFM Investors; and J.P. Morgan Infrastructure Investments Fund, an open-end infrastructure fund managed by J.P. Morgan Asset Management. KPERS has previously committed to all of these managers.
KPERS has a long-term allocation target of 8% to alternatives, according to documents on the pension fund's website.