The Kansas Public Employees Retirement System (KPERS) has increased its real estate target from 13 percent to 15 percent.
In December 2022, the pension fund proposed a real estate pacing plan for 2023 to temper its core exposure in line with its targets. KPERS invests in both core and noncore real estate, with a heavier focus on lower-risk core investments. The pension fund targets a split of 75 percent and 25 percent between core and noncore real estate. As of the end of 2022, on a standalone basis, the noncore portfolio was generally in line with its target, but the real estate portfolio was overweight to core relative to its targeted strategic blend.
KPERS’ average commitment size during the past several years has been about $60 million, but based on KPERS’ evolving market views and its long-term portfolio pacing objectives, the pension fund recom
