KRS approves $75 million commitment

The US public pension has backed MiddleGround Capital's debut buyout fund.

Institution: Kentucky Retirement Systems
Headquarters: Frankfort, United States
AUM: $17.98bn
Allocation to alternatives: 24.49%
Bitesize: $50-100m

Kentucky Retirement Systems (KRS) has agreed to commit $75 million to MiddleGround Capital Fund I, according to the pension’s most recent monthly investment materials. This is MiddleGround’s debut buyout fund and is North America-focused.

The $17.98 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 9.55 percent.

As illustrated in the charts below, KRS’ only other private equity commitment to a fund with a 2018 vintage is $25 million to New State Capital Partners Fund II.

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