Arkansas Teacher Retirement System, Little Rock, committed up to $65 million total to three alternatives managers, confirmed George Hopkins, executive director.
The $12.6 billion pension fund committed up to $25 million to KPS Special Situations Fund IV, a private equity fund focused on deep-turnaround buyouts and managed by KPS Capital Partners. It committed $40 million to the predecessor fund.
The pension plan also committed up to $20 million each to LaSalle Income and Growth Fund VI, a closed-end value-added real estate fund managed by LaSalle Investment Management, and Levine Leichtman Capital Partners V, a structured equity partnership.
It is the retirement system's first commitments to LaSalle and Levine Leichtman, Mr. Hopkins said in an e-mail.
Private equity consultant Franklin Park assisted with the private equity commitments; Hewitt EnnisKnupp assisted with the real estate commitment.