Kansas Public Employees Retirement System has plans to commit up to $305 million to core and noncore real estate funds in 2019, according to KPERS’ Real Estate Portfolio Pacing November 2018 report.
In its 2019 pacing objectives, KPERS plans to commit between $55 million and $105 million to noncore investments and up to $200 million to core investments. Although KPERS invests in both core and noncore real estate, it has a heavier focus on lower-risk core investments. Currently, KPERS targets a 75 percent/25 percent split between core and noncore real estate, respectively.
In order to build toward its allocation target, KPERS committed nearly $800 million to six core funds since the beginning of 2012. However, additional core investments are needed to reach the target allocation for the core portfolio. To reduce exposure to the market cycle, KPERS’ investment plan is to continue moving the real estate portfolio toward the long-term allocation steadily.
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