Updated with clarification
Arkansas Teacher Retirement System, Little Rock, committed up to $210 million to five alternative investment funds, said Rod Graves, deputy director of the $16 billion pension plan.
At its Monday meeting, the board committed $50 million each to Torchlight Debt Opportunity Fund VII, a real estate debt fund managed by Torchlight Investors; CBRE Strategic Partners U.S. Value 9, a value-added real estate fund managed by CBRE Global Investors; and Macquarie Infrastructure Partners V, an infrastructure fund managed by Macquarie Infrastructure and Real Assets.
Real assets investment consultant Aon Hewitt Investment Consulting advised on the commitments.
The state teacher retirement system also committed $30 million each to LLR Equity Partners VI, a buyout fund from LLR Partners that targets companies in education, fintech, health care, security and software; and made a follow-on commitment of $30 million to Franklin Park Venture Capital Fund XIII, a private equity fund of funds, managed by Franklin Park Associates. The board had approved a $30 million to the Franklin Park fund in December.
Private equity investment consultant Franklin Park advised on the two commitments.
The retirement system had a target allocation of 11.94% to real assets and 12% to private equity as of March 31.
