Arkansas Teacher Retirement System has approved a $450m (€415.9m) real assets pacing plan for 2024, according to the pension fund’s meeting document.
The plan for next year includes $250m for core real estate investments, $150m for a mix of value-add and opportunistic strategies, and $50m for infrastructure.
In 2023, the pension fund earmarked $200m for core real estate but failed to finalise any investments in this sector.
The investment plan for core investment in 2024 involves adding to its existing exposure to property types like apartments and industrial and lowering the amount invested in the struggling property types of office and retail, the pension fund disclosed in the meeting document.
The investment plan for infrastructure is to commit capital to complementary strategies and move up the risk-return spectrum to capitalise on potential distress from the rising-rate market environment.
Arkansas Teacher told IPE Real Assets that it has ended 2023 with a $50m commitment to the KKR Real Estate Partners Americas IV.
As previously reported, the KKR-managed fund is seeking to raise $4bn. The manager raised $4.3bn for a predecessor fund which closed in October 2021.
KKR did not respond to a request for comment.
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