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KPERS to commit up to $350m to real estate in 2015

by Reg Clodfelter

The $16.4 billion Kansas Public Employees Retirement System will commit between $325 million and $350 million to real estate over the course of 2015, according to the KPERS 2015 real estate pacing plan, as the retirement system brings its allocation to real estate from its current level of just over 8 percent to the long-term target allocation of 11 percent.

KPERS will commit $200 million to core real estate in 2015, spreading the capital among its six core managers (JP Morgan Asset Management, Morgan Stanley, LaSalle Investment Management, Heitman, UBS Global Asset Management and Jamestown) and potentially adding a seventh manager. KPERS’ most recent core commitment was a $50 million commitment to Heitman America Real Estate Trust, an open-end core fund managed by Heitman, in August.

As of June 30, 2014, KPERS

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