Kentucky County Employees' Retirement System, Frankford, approved three new real-return commitments totaling up to $525 million.
The $10.8 billion pension fund's board at its meeting on Wednesday approved commitments of up to $175 million each to American Rivers Fund, an open-end fund that targets investments in marine transportation leasing managed by Maritime Partners; Arctos Sports Partners Fund II, a fund that purchases non-control stakes in professional sports franchises; and Ceres Farms, a farmland fund managed by Ceres Partners, a webcast of the meeting shows.
All are first-time commitments to the managers. The pension fund's target allocation to real return is 13%.
