Investors - JANUARY 23, 2014

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KPERS makes industrial commitment

by Andrea Waitrovich

The $14.4 billion Kansas Public Employees Retirement System has made a follow-on commitment to Exeter Property Group’s industrial investment fund series.

KPERS invested $40 million in Exeter Industrial Value Fund III. The pension fund started investing in the fund series in 2011 with a $30 million commitment to its predecessor Exeter Industrial II, which closed in 2012 with $615 million in equity.

KPERS has 8.2 percent of its total portfolio, or $1.2 billion, invested in real estate with an 11 percent target allocation to the asset class as of Sept. 30, 2013. Its portfolio consists of 47.5 percent core and 52.5 percent noncore.

Exeter’s value-added fund launched in September 2013 with a $675 million fundraising goal and a $792.5 million hard cap.

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