Arkansas Teacher Retirement System, Little Rock, committed up to $30 million to Thoma Bravo Fund XIII, a buyout fund, said Rod Graves, head of investments, in an email.
The $17.3 billion pension fund previously committed up to $25 million to buyout fund Thoma Bravo Discover Fund II in 2017.
Investment consultant Aon Hewitt Investment Consulting assisted.
Also at Monday's investment committee, members set 2019 targets for some asset classes. 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.
It also is targeting $275 million in total private equity commitments for next year. This includes $120 million for small to midsize buyout/growth/turnaround funds; $30 million to $65 million to distressed debt; and a total of $90 million approved for three funds — up to $30 million apiece to Franklin Park Venture Capital Access Fund, a fund of funds investing in venture capital private equity funds; Franklin Park International Fund 2019, a fund of funds investing in international private equity funds; and ATRS/FP Private Equity Fund, a multistrategy fund focused on co-investments, next generation manager funds and appraisal right opportunities.
