Kentucky Retirement Systems, Frankfort, committed up to $100 million to ITE Rail Fund.
The retirement systems’ board approved the commitment to the open-end railcar leasing fund managed by ITE Management, at its Dec. 17 meeting, a webcast for the meeting showed. The fund focuses on acquiring, managing and leasing railcars primarily in North America.
The Kentucky Retirement Systems comprises the $4.5 billion Employees' Retirement System (Non-Hazardous), $1.1 billion Employees' Retirement System (Hazardous) and $680 million State Police Retirement System.
As of Oct. 31, the systems’ actual allocations to real returns were 9.5%, 8.1% and 9.9%, respectively.
