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Arkansas commits to PGIM Real Estate and Kayne Anderson Real Estate funds

The system focuses on funds with value add, core and opportunity strategies.

Institution: Arkansas Teacher Retirement System
Headquarters: Little Rock, United States
AUM: $16.6 billion
Allocation to alternatives: 32.3%

Arkansas Teacher Retirement System has committed $100 million across two real estate funds, from Kayne Anderson Real Estate and PGIM Real Estate, according to a September 2020 board meeting packet.

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Highlights from ATRS’s September 2020 board committee meeting:

  • ATRS invested $50 million in Kayne Anderson Real Estate Partners VI, which invests in senior housing and medical offices. The fund is targeting $2 billion.
  • The pension pledged up to $50 million to PGIM Real Estate Capital VII, which focuses on junior and senior debt in the real estate industry in Europe and is targeting £1.5 billion ($1.9 billion; €1.65 billion).
  • The real estate asset class makes up 8.1 percent of ATRS’s $16.6 billion portfolio.
  • The system’s annualized return for its total fund is 6.03 percent, with a performance benchmark of 6.63 percent, over the last five years.
  • Aon Hewitt Investment Consulting serves as ATRS’s investment advisor.

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Jerry Meyer serves as ATRS’s Alternative and Real Assets Investment manager, a position he’s held since 2009, according to LinkedIn.

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