The $18.8 billion Kansas Public Employees Retirement System has committed $60 million to JPMCB Strategic Property Fund, according to Kristen Basso, communications officer for the pension fund.
JPMCB Strategic Property Fund, managed by J.P. Morgan Asset Management Global Real Assets, is an open-ended core real estate fund that invests in office, industrial, multifamily and retail properties throughout the United States.
At its most recent investment meeting on May 18, KPERS also negotiated a new contract with Pension Consulting Alliance to provide general investment consulting services for an initial term of three years, with optional annual renewals for an additional seven years. PCA has served as the pension fund’s consultant for the past 10 years.
KPERS has a target allocation to real estate of 11 percent.