Kansas Public Employees Retirement System, Topeka, committed up to $50 million to New Mountain Partners VI, a buyout fund managed by New Mountain Capital, spokeswoman Kristen Basso said in an email.
The $18.5 billion pension fund previously committed up to $75 million to New Mountain Partners V in 2017.
As of March 31, the actual allocation to alternatives was 9.4%; the target is 8%.
Separately, the pension fund terminated Franklin Templeton from a $148 million bank loan portfolio due to performance and personnel changes. Franklin Templeton spokeswoman Stacey Coleman could not be immediately reached for comment.
Assets are being allocated to existing strategic fixed-income managers Loomis Sayles & Co. and Western Asset Management, increasing their portfolios to about $1.6 billion and $1.3 billion, respectively.
As of March 31, the actual allocation to fixed income was 11.8%; the target is 11%.
