Arkansas Teacher Retirement System, Little Rock, approved up to $190 million in commitments, and also approved real assets and private equity pacing plans for 2025.
The $22.9 billion pension fund’s board approved the actions at its Dec. 2 meeting, said Rod Graves, deputy director.
First, the board approved commitments of up to $50 million to Long Wharf Real Estate Partners VII, a value-added real estate fund managed by Long Wharf Capital; and up to $35 million each to buyout fund Novacap International Technologies VII, special situations fund Peak Rock Capital Fund IV, buyout fund Revelstoke Capital Partners Fund IV and buyout fund Riverside Value Fund II, managed by The Riverside Co.
The board also approved a 2025 real assets pacing plan totaling $750 million in commitments, which will be made up of commitments totaling $350 million to infrastructure funds, $300 million to core real estate funds and $100 million to value-added and opportunistic real estate funds.
Also, the board approved a 2025 private equity pacing plan totaling $400 million in commitments, which will be made up of five to seven commitments to buyout/growth/turnaround funds and/or one to two commitments to distressed debt funds for a total of up to $280 million, along with a total of up to $120 million ($40 million each) to early stage venture capital funds of funds Franklin Park Venture Capital Fund XV, later-stage venture capital fund of funds Franklin Park Venture Capital Opportunity Fund II and buyout/growth/turnaround fund of funds Franklin Park Corporate Finance Access Fund III, all managed by Franklin Park Associates, the pension fund’s private equity consultant.
Formal recommendations and board approvals for the latter three funds will occur at a later date.
As of Sept. 30, the actual allocations to real assets and private equity were 11.7% and 12.9%, respectively; their respective long-term targets are 15% and 12%.
