Arkansas Teacher Retirement System, Little Rock, committed up to $180 million total to seven alternatives funds and approved private equity and real assets pacing plans for 2018, said George Hopkins, executive director, in an email.
In private equity, the $16.1 billion pension fund committed up to $155 million total to six funds:
- $30 million to Siris Partners IV, a buyout fund managed by Siris Capital Group;
- $25 million to buyout fund Thoma Bravo Discover Fund II;
- $25 million to buyout fund Sycamore Partners III;
- $25 million to fund of funds Franklin Park Venture Fund Series 2018;
- $25 million to fund of funds Franklin Park International Fund 2018; and
- $25 million to the Arkansas Teachers Retirement/Franklin Park Private Equity Fund for co-investments and select opportunities with emerging manager funds.
The Franklin Park commitments are part of the pension fund's private equity pacing plan for 2018, which calls for $260 million in total commitments.
To help the pension fund reach the $260 million and maintain its 10% target to private equity, the pension fund also approved allocating additional funds to Franklin Park, a discretionary manager: committing $120 million total to four funds in 2018 that have buyout, growth equity or turnaround strategies, and $30 million to $65 million total to one or two debt/distressed funds.
In real assets, the pension fund committed up to $25 million to Torchlight Debt Opportunity Fund VI, an opportunistic real estate fund managed by Torchlight Investors.
For 2018, the pension fund is targeting $180 million in total real assets commitments — $80 million to value-added real estate, $50 million to opportunistic real estate and $50 million to infrastructure.
