Investors - AUGUST 11, 2014

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Kansas commits $50m to Heitman

by Reg Clodfelter

The $16.2 billion Kansas Public Employees Retirement System has committed $50 million to Heitman America Real Estate Trust, an open-end core fund managed by Heitman.

HART, which opened in August 2006, focuses on well-priced apartment, industrial, retail, office and self-storage properties in the United States with up to 10 percent of investments made in Canada. Investments will be diversified by property type and geography, and will use leverage of up to 30 percent. Heitman will reportedly also consider value-add investments for up to 15 percent of the portfolio value. KPERS invested $75 million with Heitman in May 2012.

As of May 31, KPERS’ $1.4 billion real estate portfolio is 1.4 percentage points short of its 9 percent target allocation. The real estate portfolio has a target core/noncore split of 65 percent and 35 percent, respectively

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