Arkansas Teacher Retirement System, Little Rock, committed $225 million to five alternatives managers, said Rod Graves, senior investment manager, in an e-mail.
In private equity, the pension fund committed $25 million each to two Franklin Park fund of funds: Venture Fund 2016 and International Fund 2016. Additionally, the pension fund committed $65 million to Franklin Park for co-investments and select opportunities with emerging manager funds.
Also in private equity, ATRS committed up to $30 million each to DW Healthcare Partners IV, a buyout fund that invests in expansion-stage health-care companies; PineBridge Structured Capital Partners III, a small- and middle-market mezzanine debt and equity securities fund managed by PineBridge Investments; and Thoma Bravo Discover Fund, a U.S. focused buyout fund that targets software investments.
In real assets, the $14.3 billion pension fund committed up to $20 million to real estate fund-of-funds Metropolitan Real Estate Partners Secondaries and Co-Investments Fund, managed by Metropolitan Real Estate Equity Management. ATRS will only invest in the co-investment segment.
The pension fund has a 10% and 15% target to private equity and real assets, respectively.