Arkansas Teacher Retirement System (ATRS) has approved $150m (€138.7m) to its real assets portfolio, dividing it equally between funds managed by Kayne Anderson Real Estate, Macquarie and KKR.

ATRS has placed $50m each into the Kayne Anderson Real Estate Partners VII, Macquarie GIG Energy & Climate Opportunities Fund and the KKR Global Infrastructure Investors V funds.

As previously reported, Kayne Anderson is seeking to raise $3bn for the seventh US value-add fund

The manager raised $2.75bn for the sixth fund in the series which invests in medical offices, seniors housing and student housing assets that require and benefit from specialised operational knowledge and expertise.

IPE Real Assets understands that Kayne Anderson has secured around half of its fundraising target so far for the fund which is expected to close by year-end or early 2025. 

The open-ended Macquarie fund targets an initial $5bn fundraise to invest mainly in solar, onshore and offshore wind assets. The fund will also consider hydro, geothermal, bioenergy, storage and natural solutions, provided they can be scaled up commercially.  

The fund will primarily invest in assets in North America, Europe and the Asia Pacific regions. It targets net internal rate of returns between 10% and 12%, with a net yield of 3% to 5% after an initial ramp-up period. 

Arkansas Teacher Retirement System

Macquarie intends to commit to the fund by co-investing the lesser of 10% of total raised capital or $500m. 

As previously reported, KKR is seeking to raise $20bn for its global infrastructure fund.

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