Investors - MARCH 24, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

KPERS commits $40m to CBREGI fund

by Andrea Waitrovich

The $15.66 billion Kansas Public Employees Retirement System approved a $40 million commitment to CBRE Strategic Partners U.S. Value Fund 7, managed by CBRE Global Investors, at its March 14 meeting.

The value-added fund launched in October 2013 with a $1.5 billion target and is anticipating a first close on April 1. The value-added fund will invest in “next-tier” U.S. markets across the major property types and will seek to acquire properties that are at a discount to current replacement cost, are off-market or have limited bid situations, or are underperforming assets from distressed or transitional owners. The fund will use up to 60 percent leverage and will seek a net, leveraged IRR of 12.8 percent.

This is a follow-on investment to the CBRE Global Investors fund series. KPERS invested $50 million in the manager's U.S. Value 6 in May 2012.

KPERS has an 11 percent target allocation

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy