The Arkansas Teacher Retirement System (ARTRS) is looking to commit $90 million to two real estate funds, according to a document from the board’s Sept. 28 meeting.
ARTRS has earmarked $50 million for Kayne Anderson Real Estate Partners VI (KAREP VI), a closed-end opportunistic fund managed by Kayne Anderson Capital Advisors, and $40 million for PGIM Real Estate Capital VII (PRECap VII), a closed-end debt fund managed by PGIM Real Estate.
In July, KAREP VI opened to investors with a $2 billion fundraising target. The vehicle is focused on senior housing, medical offices and student housing assets within the United States. The Teachers’ Retirement System of Louisiana has committed $50 million to the vehicle.
The other fund, PRECap VII, specializes in junior and senio
