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KPERS approves $50m PE commitment

The US public pension has backed New Mountain Capital's latest fund in its flagship series.

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Institution: Kansas Public Employees Retirement System
Headquarters: Topeka, United States
AUM: $18.54 billion
Allocation to alternatives: 20.30%

Kansas Public Employees Retirement System confirmed a $50 million commitment to New Mountain Partners VI at its May 2020 investment committee meeting, a contact at the pension told Private Equity International.

The sixth fund in New Mountain’s buyout series is in market targeting $8 billion. Its immediate predecessor held a final close in September 2017 at $6.15 billion.

The $18.54 billion US public pension has an 8 percent target allocation to private equity that currently stands at 9.4 percent.

As illustrated below, KPERS’ private equity commitments tend to target North American buyout funds.

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