Investors to help launch second, larger vehicle with wider investment strategy. : Kentucky Retirement Systems (KRS) and MassMutual Life Insurance Company have agreed to commit €425m to Baring’s second European value-add real estate fund. KRS stated in a board meeting that the pension fund and MassMutual, which owns Barings, are each committing €212.5m to Barings Real Estate Europe Value-Add II. The new fund is intended to raise capital from other investors and the commitment from KRS is contingent on it not exceeding 25% of total capital raised.