The board of trustees of the approximately $21 billion Arkansas Teachers’ Retirement System approved up to $105 million in commitments to two new alternative investment funds at its June 6 meeting. The awards are just the latest in what was a busy April for the public retirement fund regarding private equity and real asset investment commitments.
At the meeting, the board authorized an investment commitment of up to $30 million to private equity fund BVIP Fund XI, L.P., according to fund documents. In the real asset class, it approved an investment commitment of up to $75 million to Blackstone Real Estate Partners X LP (BREP X).
According to an investment committee report delivered to the board at the meeting, the system closed several private equity investments in April. They include:
- Up to $50 million to Silver Point Capital Fund LP., a fund that invests in mispriced, stressed, and special situation catalyst driven debt instruments;
- Up to $15 million to Thoma Bravo Fund XV, L.P., a private equity buyout fund that invests in larger market software and technology enabled services companies;
- Up to $15 million to Thoma Bravo Discover Fund IV, L.P., a buyout fund focused on U.S. investments with a specialization in middle market software and technology-enabled services companies;
- Up to $15 million to Thoma Bravo Explore Fund II, L.P, a private equity buyout fund focused on U.S. investments with a specialization in small and lower middle market software and technology enabled services companies;
- Up to $25 million to KKR Diversified Core Infrastructure Fund L.P., an open-end fund that seeks to pursue core infrastructure investments with a buy-and-hold approach;
- Up to $30 million Arlington Capital Partners VI, LP., a buyout fund that focuses on small- to lower-middle-market companies in the U.S.;
- And up to $30 million Franklin Park Venture Capital Fund XIV, LP., a fund of funds managed by Franklin Park that invests in venture capital private equity funds.
