Arkansas Teacher Retirement System, Little Rock, committed or invested up to $290 million total with three managers, said George Hopkins, executive director.
The $14.3 billion pension fund invested up to $150 million total with Trian Fund Management, an activist hedge fund manager focused on “high-quality mid to large-cap companies with sustainable business models and cash flow,” said documents prepared for the Monday board meeting. Of that, $100 million was allocated to Trian Partners Co-Investment Opportunities Fund and $50 million to Trian Partners.
In private equity, the pension fund committed up to $30 million to JFL Equity Investors IV, a buyout fund focused on defense, aerospace, maritime industries and related businesses that is managed by J.F. Lehman & Co.
The pension fund also allocated up to $110 million to Aeolus Property Catastrophe Keystone PF Fund, an “alternative/opportunistic reinsurance fund specializing in property catastrophe insurance coverage” and managed by Aeolus Capital Management, according to the meeting materials.
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.