Kentucky Retirement Systems, Frankfort, committed a total of $100 million to Kayne Private Energy Income Fund III.
The retirement systems’ board approved the commitment to the oil and gas fund managed by Kayne Anderson Capital Advisors at its April 29 meeting, a webcast of the meeting showed.
KRS previously committed $100 million to Kayne Anderson Energy Fund VII in 2016.
The retirement systems comprising KRS are the $4.7 billion Kentucky Employees’ Retirement System, $1.1 billion Kentucky Employees’ Retirement System–Hazardous, and $703 million Kentucky State Police Retirement System.
As of Feb. 28, the pension funds’ actual allocations to real return were 9.6%, 7.9% and 10%, respectively.
Investment consultant Wilshire Advisors assisted.
