Arkansas Teacher Retirement System committed up to $25 million to American Industrial Partners Capital Fund VI, said George Hopkins, executive director of the Little Rock-based pension fund.
The buyout, turnaround and distressed debt fund targets underperforming, middle-market industrial companies headquartered in North America.
Private equity consultant Franklin Park assisted with the commitment.
In other news, the $14.3 billion pension fund returned a preliminary net 5.2% for the fiscal year ended June 30, hitting its benchmark. For the three and 10 years ended June 30, the pension fund returned an annualized 12.7% and 7.6%, respectively.
The pension fund has a long-term target asset allocation of 30% global equity, 20% each domestic equity and total fixed income, 15% real assets, 10% private equity and 5% alternatives, according to its website.
