The pension fund told IPE Real Assets that it has made a $65m commitment to the Heitman Value Partners V fund and placed $55m into the CBRE Strategic Partners US Value 9 fund.
According to sources, the Heitman fund, which seeks to raise $1bn, had raised $487m prior to the pension fund’s commitment. Heitman raised $1.1bn for the predecessor fund in February 2019.
The Heitman fund invests in multiple property types including medical office/healthcare, student/senior housing, office, retail and self-storage.
CBRE is targeting a $2bn capital raise for US Value 9, according to industry sources. The fund targets real estate assets like apartments, industrial, retail, office and mixed-use.
The two commitments issued by Kansas PERS represent the pension fund’s first value-add commitments…