Arkansas Teacher Retirement System, Little Rock, committed up to $90 million to two real estate funds and made a $30 million follow-on commitment to a fund of funds, documents from the $16.7 billion pension fund show.
At its Sept. 28 meeting, the board agreed to commit up to $50 million to Kayne Anderson Real Estate Partners VI, an opportunistic real estate fund managed by Kayne Anderson Capital Advisors; and up to $40 million to PGIM Real Estate Capital VII, which specializes in junior and senior debt in the European real estate market.
The retirement system also made a $30 million follow-on commitment to Franklin Park Corporate Finance Access Fund, a fund of funds managed by Franklin Park that invests in smaller buyout, growth and turnaround private equity funds. The board currently had $53 million in the fund of funds as of June 30.
Rod Graves, deputy director of the pension plan, could not be immediately reached for comment.