Kentucky Teachers commits $60m to real estate fund
The Teachers’ Retirement System of Kentucky has committed $60 million to TA Realty Associates Fund XI, according to Gary Harbin, executive secretary for the pension fund.
The $50 million came from the pension fund’s retirement trust and the other $10 million came from the medical insurance trust.
The $18.1 billion pension fund previously invested in TA Realty Associates Fund X.
TA Realty’s value-added, noncore real estate fund received a commitment of $50 million from the Illinois Municipal Retirement Fund earlier this year.
Kentucky TRS currently has a 4.4 percent allocation to real estate, just under its 5 percent target.