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ansas Public Employees Retirement System (PERS) has made a significant foray into alternative investments, committing $355m to real estate, forestry, and infrastructure funds. This strategic move underscores the pension fund's commitment to diversifying its portfolio.

    A substantial $75m allocation was made to LaSalle Property Fund, marking the fifth investment in this open-ended vehicle. Previous commitments include $100m in 2010, $60m in 2017, $65m in 2019, and $125m in 2022. The LaSalle fund focuses on traditional US sectors such as office, industrial, retail, and apartments, while also exploring niche assets like single-family rentals and medical offices.

    A reallocation of capital within the pension fund's existing REIT portfolio enabled a $210m investment in Lyme Forest Fund VI, an open-ended forest fund that targets natural forest investment opportunities in the US. Meanwhile, a $70m commitment was made to JP Morgan Infrastructure Investments Fund, which focuses on infrastructure investments in renewable energy, water, natural gas, electric utilities, and transportation sectors.

    The pension fund's decision-making process is not without its challenges. A recent $85m real estate commitment to Principal Data Center Growth and Income Fund was reversed due to an inability to agree on contract terms. This reversal highlights the complexities involved in navigating alternative investments.