By Muskan Arora
The $28.75B Kansas Public Employees Retirement System is doubling down on its buyout strategy within its private equity portfolio, following a commitment of $110M.
According to the recent meeting materials, the pension plan made a commitment of $110M to Great Hill Equity Partners IX. The fund is focused on middle-market and growth investments.
The fund eyes investments in software, financial services, health care, consumer, and business services companies in the U.S., Canada and Western Europe.
Great Hill’s prior funds have consistently tracked above median performance for net multiple and net IRR relative to the Burgiss Global Buyout & Expansion Capital benchmark and four of the last five funds in the series have generated top quartile performance, noted the meeting materials.
Great Hill Equity Partners VIII, the predecessor fund, closed in 2022 with $5.5B in commitments and is focused on investments in technology-enabled businesses with scalable models.
Earlier in June, KPERS committed $110M each to TPG Partners X buyout fund and JMI Equity Fund XII, a growth equity fund.
The TPG fund is focused on sectors including healthcare, retail and business whereas the JMI fund is focused on TMT sectors in North America.
For 2025, the pension plan had earmarked a pacing of up to $700M across six to eight funds, with individual ticket sizes ranging from $90M to $120M.
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