Arkansas Teacher Retirement System, Little Rock, committed up to $142 million total to four alternatives managers, said George Hopkins, executive director.
The $14.4 billion pension fund committed up to $50 million to Nephila Capital Rubik Holdings and up to an additional $37 million to Aeolus Property Catastrophe Keystone PF Fund, managed by Aeolus Capital Management. Both Nephila and Aeolus are opportunistic/alternative reinsurance funds that specialize in property catastrophe insurance coverage. ATRS previously committed up to $110 million to the Aeolus fund in October.
In private equity, the pension fund committed up to $30 million to buyout fund Thoma Bravo Fund XII. It previously committed up to $25 million to predecessor fund Thoma Bravo Fund XI in 2014.
In real assets, the pension fund committed up to $25 million to Harbert European Real Estate Fund IV, a value-added real estate fund targeting office, industrial, retail and residential properties managed by Harbert Management.
Separately, ATRS will transition out of a BlackRock U.S. equity index fund due to a shift in the pension fund's investment strategy toward a more global equity portfolio. Less than $10 million is invested the BlackRock strategy. Where funds will be transferred could not immediately be learned.
The pension fund also has about $950 million invested in a BlackRock global index fund, which will be retained.