Institution: Arkansas Teacher Retirement System
Headquarters: Little Rock, US
AUM: $19.7 billion
Arkansas Teacher Retirement System has confirmed $95 million in commitments across two private equity vehicles, a source at the pension has confirmed. The pension committed $65 million to LLR Equity Partners VII and $30 million to Franklin Park Co-Investment Fund VI.
ATRS has previously invested in Franklin Park-managed funds, including Franklin Park Corporate Finance Access Fund II and Franklin Park International Fund XI. Franklin Park’s sixth co-investment fund will target $350 million.
At the February meeting, the pension discussed and will potentially be committing more capital to Franklin Park’s fifth coinvestment Fund to bring the total offering to $125 million over the next two years. In December 2022, the pension’s pacing plan for 2023 was announced, stating that $350 million will be allocated to buyout or growth equity vehicles. This was reported on by Private Equity International here.
The pension’s commitment to LLR Partners‘ seventh fund is the first known commitment to the Philadelphia-based asset manager, according to the Private Equity International database. Equity Partner’s VII is targeting $2.25 billion and is aiming to hold an interim close by the end of February 2023.
The $19.7 billion US public pension has a 12 percent target allocation to private equity that, as of December 2022, sits at 14.66 percent. As illustrated below, it tends to target buyout funds focused on vehicles pursuing a variety of sectors.
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