Kansas Public Employees Retirement System, Topeka, approved searches for U.S. high-yield and U.S. real estate investment trust managers.
The $24.3 billion pension fund's board at its July 21 meeting approved issuing RFPs for the managers, spokeswoman Emily Wilson said in an email.
Ms. Wilson said there is yet no specific timeline on the RFPs, which when issued will be posted on the pension fund's website.
The approvals for the searches come two months after the board at its May 26 meeting approved a new target allocation, which included increases in the targets to real estate to 15% from 13% and yield-driven strategies to 12% from 6%.
Other changes in the target allocation were increases in core fixed income to 13% from 10% and private equity to 11% from 9%, and decreases in the targets to global equity to 43% from 47%, real return to 3% from 11% and cash equivalents to 3% from 4%.
Also at its July 21 meeting, the KPERS board approved terminating BlackRock from a global inflation-linked securities portfolio and using the proceeds to rebalance the core fixed-income and cash equivalents portfolios to their new targets.
Ms. Wilson could not be immediately reached for further information on portfolio sizes.