The Public Employees Retirement System of Kansas (PERS) is considering allocating $600 million (€548.3 million) to real estate investments in 2024, according to a board meeting document for the pension fund prepared by a real estate investment consultant. .
Townsend Group expects all potential commitments during the period to be put into the fund, with up to $250 million in core strategies and up to $350 million in non-core (value-add and opportunistic) strategies. He outlined what he would invest in the project.
Kansas PERS made no core real estate fund commitments in 2023. The pension fund’s latest and final commitment in 2023 is a $75 million commitment to Oaktree Capital Management’s newest opportunistic real estate fund, Oaktree Real Estate Opportunities Fund IX. there were.
Kansas PERS conducted a search to identify a new real estate investment manager for its yield-focused portfolio, but closed the search without hiring a new manager.
The pension fund has decided not to hire a new management company due to concerns about overlapping investments with its current real estate investment trust (REIT) management company, Center Square. Approximately 80% of the finalists’ portfolios and 90% of his were already reflected in CenterSquare’s portfolio.
Kansas PERS has no plans to conduct a search for a new REIT manager at this time.
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