Arkansas Teachers assigns $115 million to private equity

Arkansas Teacher Retirement System, Little Rock, committed up to $115 million to four private equity funds and set private equity and real asset pacing plans for 2017, said George Hopkins, director.

The $14.4 billion pension fund committed up $35 million to EnCap Energy Capital Fund XI, a private equity oil and gas fund managed by EnCap Investments; up to $30 million to GCG Investors IV, a mezzanine debt fund managed by Greyrock Capital Group; and up to $25 million each to funds of funds Franklin Park Venture Fund Series 2017 and Franklin Park International Fund 2017.

The two Franklin Park commitments are part of the pension fund’s private equity pacing plan for 2017, which calls for up to $260 million in total commitments. To help the pension fund reach its 2017 private equity target and maintain its 10% allocation to the asset class, Franklin Park will invest an additional $120 million total to four to six funds with buyout, growth equity or turnaround strategies; an additional $30 million to $65 million total to one or more debt strategies; and $25 million total to co-investments and opportunities with emerging manager funds in the calendar year.

In real assets, the pension fund is targeting $180 million in total commitments — $80 million to value-added real estate and $50 million each to opportunistic real estate and infrastructure.