The executive director of the Arkansas Teacher Retirement System on Monday defended his recommendation for the system to cut its target rate of investment return from 7.5% to 7.25% a year, saying he couldn't in good conscience recommend keeping the higher rate if the system's actuary considered it unreasonable.
Arkansas Teachers assigns $80 million to private equity
Pension fund also tops up 2 previous commitments
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Arkansas Teacher Retirement System, Little Rock, agreed to commit $80 million to two private equity funds and to make two follow-on commitments totaling $60 million, confirmed Rod Graves, deputy director of the $19.5 billion pension fund, in an email.
At its Feb. 1 meeting, the board voted to commit up to $50 million to ISQ Global Infrastructure Fund III, managed by
I Squared Capital; and $30 million to Greenbriar Equity Fund V, a buyout fund managed by
Greenbriar Equity Group.
The board also agreed to make follow-on commitments of $30 million apiece to two funds of funds managed by Franklin Park: Franklin Park Corporate Finance Access Fund, and Franklin Park International Fund X (formerly Franklin Park International Fund 2019).