Arkansas Teacher Retirement System, Little Rock, committed up to $40 million to Mesa West Real Estate Income Fund V, a value-added real estate fund managed by Mesa West Capital, confirmed Rod Graves, deputy director of the $16.7 billion pension fund, in an email.
The commitment was made at the board's Monday meeting at the recommendation of the retirement system's investment consultant, Aon Investments USA.
Also at its meeting, the board agreed to target about $330 million in real assets commitments in 2021, which includes $280 million to value-added real estate and $50 million to infrastructure.
The board also agreed to schedule $300 million in private equity commitments next year, including eight small- or middle-market buyout, growth or turnaround funds in the U.S. totaling $30 million each; one small- or middle-market buyout, growth or turnaround funds outside the U.S. totaling $30 million; and one distressed debt fund for $30 million.
