The $16.1 billion Arkansas Teacher Retirement System has committed $30 million to U.S. Real Estate Credit Offshore Fund III, according to board meeting documents.
U.S. Real Estate Credit Offshore Fund III, managed by Calmwater Asset Management, is a closed-ended, value-added real estate fund that invests in commercial real estate mortgages. The fund is focused primarily on making senior secured loans on transitional commercial real estate properties located in U.S. primary and secondary markets. The fund is seeking a maximum of $1 billion in equity commitments.
Calmwater Asset Management was launched in 2015 and is the institutional investment arm of Karlin Asset Management (KAM). As of March 31, 2017, the firm had assets under management in excess of $1.6 billion across the firm’s investment platforms, which include real estate, public equity and energy investments.
In other news, ATRS reported a 16.1 percent net return for fiscal year 2017. The pension fun
