Kentucky Public Pensions Authority

Kentucky Public Pensions Authority

The Kentucky Public Pensions Authority was established in 1956 and operates from Frankfort, Kentucky. It consolidated oversight of three defined-benefit plans that previously operated under separate boards. Steve Willer leads investment decisions as CIO while Ryan Barrow serves as executive director. The authority maintains target allocations of 10 percent to private equity and holds positions in multiple real-estate and infrastructure vehicles. Confirmed holdings include Harrison Street Core Property Fund, Prologis Targeted US Logistics Fund, Barings Real Estate European Value Add Fund II, Lubert-Adler Real Estate Fund VII-B, Ceres Farms LLC, and ITE Rail Fund LP. Geographic exposure spans the United States and Europe. The portfolio also includes limited-partner interests in Strategic Value Special Situations Fund VI, HIG Capital V, MiddleGround Partners I, and Arctos Sports Partners Fund II. The firm employs 201 professionals. It maintains long-term relationships with BNY Mellon as custodian, Wilshire Associates as investment consultant, and Gabriel, Roeder, Smith & Company as actuary. April 2025: Sponsored the KPPA Annual Meeting in Frankfort focused on governance and board leadership elections. Public equity positions reported in 13F filings include Microsoft, NVIDIA, Apple, Amazon, and JPMorgan Chase. The authority functions as a consolidated public pension administrator rather than a traditional single-plan entity. This structure allows unified investment policy and fee negotiation across KERS, CERS, and SPRS while preserving separate benefit administration for each system.