Arkansas Teachers commits up to $105m to real estate
The $14.9 billion Arkansas Teacher Retirement System has committed up to $105 million to three real estate funds.
The first commitment was an allocation of up to $50 million to UBS Trumbull Property Income Fund, an open-end core real estate fund managed by UBS Realty Investors.
The second commitment was an allocation of up to $30 million to LaSalle Asia Opportunity Fund V, managed by LaSalle Investment Management. The closed-end fund was launched in August 2016 with an expected fundraising target of $750 million and a hard cap of $1 billion. The opportunistic fund will focus its investments in Japan, Australia and China. Arkansas Teachers previously committed $30 million to the fund’s predecessor, LaSalle Asia Opportunity Fund IV, in April 2014.
The third commitment was an allocation of up to $25 million to CBRE