KPERS approves $50m commitment

The US public pension has backed Ares Management's latest series corporate opportunities fund.

Institution: Kansas Public Employees Retirement System
Headquarters: Topeka, United States
AUM: $21.14bn
Allocation to alternatives: 17.3%
Bitesize: $50-100m

Kansas Public Employees Retirement System has confirmed a $50 million commitment to Ares Corporate Opportunities Fund VI, a contact at the pension informed Private Equity International. KPERS is a repeat investor to the fund series, having previously also committed to funds III through V.

The $21.14 billion US public pension has a 9.0 percent target allocation to private equity that currently stands at 7.80 percent.

As illustrated below, KPERS has made six commitments to 2019-vintage private equity funds, which combined constitute $300 million.

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