The Arkansas Teacher Retirement System (ATRS) has approved a series of capital commitments to real estate funds, according to documents from an April 1 board of trustees meeting.
The system voted to invest €44 million ($50 million) in the Blackstone Real Estate Partners Europe VI, a closed-end opportunity fund managed by Blackstone Group. The fund acquires distressed and undermanaged European properties at below-market prices.
Blackstone Group has $457 billion under management.
ATRS also committed to Blackstone Real Estate Partners VII, which invests in a similar strategy within the United States.
ATRS is also planning to commit up to $40 million to Rockwood Capital Real Estate Partners Fund XI, managed by Rockwood Capital. The closed-end value-add real estate fund invests in office, multifamily, retail and hotel properties throughout the United States.
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