Arkansas Teacher Retirement System, Little Rock, committed $30 million to one private equity fund and transferred $60 million to two existing funds of funds, said Rod Graves, deputy director, in an email.
The board approved a commitment of up to $30 million to JFL Equity Investors V, a buyout fund managed by J.F. Lehman & Co. that invests in the defense, aerospace and maritime, and related industries.
The board also approved a transfer of $30 million to Franklin Park Venture Fund Series 2019, a fund of funds managed by Franklin Park that invests in venture capital funds, from Franklin Venture Capital Access Fund; and also a transfer of $30 million to Franklin Park Corporate Finance Access Fund, a fund of funds also managed by Franklin Park that invests in smaller buyout, growth and turnaround private equity funds, from ATRS/FP Private Equity Fund.
These actions were made at the $17.3 billion pension fund's June 3 board meeting. The pension fund's actual allocation to private equity was 11.8% as of June 30, 2018, the most recent data available.