Updated with correction
Arkansas Teacher Retirement System, Little Rock, committed up to $30 million to BVIP Fund X, a buyout fund managed by BV Investment Partners, said Rod Graves, deputy director for the $17.6 billion pension fund, in an email.
The fund invests in middle-market companies in the technology-enabled business services and information technology services sectors.
The pension fund has previously committed to the three predecessor funds (Funds IX, VIII and VII) in the series.
Franklin Park Associates, the plan's private equity consultant, assisted with the selection.
The board made the commitment at its meeting Monday.