KPERS commits up to $60m to industrial property fund
The $17 billion Kansas Public Employees Retirement System has committed up to $60 million to Exeter Industrial Value Fund IV, managed by Exeter Property Group.
The value-added fund will focus on investments in U.S. industrial properties. Exeter is looking to raise $1 billion for its fourth fund in the series. The fund’s predecessor, Exeter Industrial Value Fund III, held a final close of $830.9 billion in September 2014. KPERS previously committed $40 million to Exeter Industrial Value Fund III in 2014 and $30 million to Exeter Industrial Value Fund II in 2011.
Recently, KPERS committed $40 million to Greystar Equity Partners IX. The pension fund has a target allocation to real estate of 9 percent and an actual allocation to the asset class of 8.9 percent.