Kansas Public Employees re-ups in AEW Partners Real Estate Fund X

The $24.3 billion Kansas Public Employees Retirement System (KPERS) has plans to commit up to $60 million to AEW Partners Real Estate Fund X, IREI has learned.

The opportunistic real estate fund, managed by AEW Capital Management, will invest in assets throughout the United States.

The fund’s predecessor, AEW Partners Real Estate IX, closed in February 2021 with more than $1.2 billion in capital commitments. The fund hit its hard cap and exceeded the initial $750 million equity fundraising target due to strong investor interest. AEW Partners Real Estate Fund IX invests exclusively in the U.S. market, focusing on dislocations in commercial real estate.

AEW represents an existing relationship for KPERS. In 2020, the pension fund placed $50 million in the predecessor vehicle, Fund IX.

KPERS could not be reached to comment on the investment at the time o