DECEMBER 19, 2013

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Kentucky reaches target allocation to real estate

by Andrea Waitrovich

The $15 billion Kentucky Retirement System has approved three commitments to three separate real estate funds, reaching its target allocation to the asset class. ORG Portfolio Management served as its real estate consultant.

KRS committed approximately $70 million to Prologis Targeted U.S. Logistics Fund, an open-end core-plus fund managed by Prologis. The fund acquires industrial properties near airports, seaports and highway systems in major U.S. metropolitan areas.

The second investment approved by the retirement system was $120 million to Stockbridge Smart Markets Fund, an open-end fund managed by Stockbridge Capital Group. The vehicle invests in the four main property types in deals ranging between $10 million and $50 million, targeting specific “smart markets” in the United States. The fund has a broad-based strategy that invests in core, value-added and opportunistic real

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