Investors - APRIL 25, 2017

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Arkansas TRS commits $25m

by Jody Barhanovich

The $14.4 billion Arkansas Teachers Retirement System has committed $25 million to Clarion Development Ventures IV, according to spokesman Rod Graves, in an email.

Clarion Development Ventures IV, managed by Clarion Partners, is an opportunistic real estate fund that will invest in direct properties throughout the United States. It will look to generate a 15 percent net IRR through the development, redevelopment and repositioning of assets.

The fund previously received a $50 million commitment from the $23.8 billion Alaska Retirement Management Board in 2015.

The previous fund in the series, Clarion Development Ventures III, held a final close in 2008, raising $202 million in equity commitments.

Arkansas TRS has a target allocation to real estate of 10 percent.

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