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Kentucky tops up real estate commitments with additional $300 million
Kentucky tops up real estate commitments with additional $300 million
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Kentucky Public Pensions Authority, Frankfort, added a total of $300 million to two existing open-end core real estate fund investments.
KPPA investment staff made a follow-on commitment of $200 million to Harrison Street Core Property Fund, managed by Harrison Street Real Estate Capital; and $100 million to Prologis Targeted U.S. Logistics Fund, said Steven Herbert, executive director, office of investments, in a remote investment committee meeting Tuesday.
The follow-on commitments were made because the investment committee in November had approved increasing the five Kentucky pension funds target to real estate to 10% from 5% after the completion of an asset allocation study by investment consultant Wilshire Associates.