Arkansas Teachers commits $20m to real estate
The $14.2 billion Arkansas Teacher Retirement System has committed $20 million to Metropolitan Real Estate Partners Secondaries & Co-Investments Program, according to a recently released transaction report.
The board approved the commitment in December 2015. Other investors in the fund include the Nebraska Investment Council.
The fund sponsor, Metropolitan Real Estate, is a subsidiary of The Carlyle Group. In February, Carlyle announced it had completed fundraising for Metropolitan Real Estate Partners Secondaries & Co-Investments Program at $550 million in commitments, exceeding its $450 million target.
The pension fund has a 10 percent target allocation to real estate and a 9 percent actual allocation to the asset class.