By Muskan Arora

The $22.71B Arkansas Teacher Retirement System
has committed almost $500M to its private equity and real asset buckets across
seven funds.

Within real assets, the pension plan committed
$100m to Ares Industrial Real Estate Fund. The open-ended fund invests in class
A and B industrial distribution centers in coastal and inland markets
throughout the US.

The plan committed up to $100m to Carlyle
Property Investors, open-ended core plus real estate fund, at its recent April
meeting.

The fund targets a long-term return of
9%-11% annually and is focused on investments towards demographic-driven demand
sectors including manufactured housing, senior housing, data centers, single
family rentals, industrial (IOS), and self-storage.

Arkansas made another commitment of up to $50M
to AxInfra NA II, managed by an independent employee-owned investment manager
based in Canada.

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The fund primarily focused on acquiring
operating core infrastructure assets or portfolios of core infrastructure
assets with an ability to invest in late-stage greenfield projects across
renewable energy, utilities, transportation, and social infrastructure located
in United States and Canada.

Lastly, the pension plan committed up to
$50M to KKR Diversified Core Infrastructure Fund.

The fund is focused on investments across
utilities, power and renewable, telecom, transportation, social infrastructure
and energy transition sectors.

Within private equity, the plan committed
up to €40M to MML Capital Partnership VIII, which has a focus on middle-market
companies in Europe and US.

The pension plan approved up to $40M
allocation each to Franklin Park Venture Capital Fund XV and Franklin Park
Venture Capital Opportunity Fund II, which primarily focuses on investments in
UK and France.

The fund is focused on business services,
IT and software, professional services, healthcare, education, and industrials.