FUNDRAISING NEWS | October 03, 2024
The Arkansas Teacher Retirement System (ATRS) approved a $35M investment in Veritas Capital Fund IX, a private equity-middle market buyout strategy, according to recently published materials from its September 30 board meeting. Franklin Park assisted with the recommendation.
The pension’s board also approved a full redemption of the Prophet Mortgage Servicing Opportunities Fund on the advice of Aon Hewitt, which made the recommendation based in part on changing market conditions for the asset class and the length of time required for full redemption. The ATRS board originally invested $40M in the fund in July 2023, and as of July 31 it has produced a return of roughly 21%
Per Dakota data, ATRS manages $22.4B in assets, and as of June 30 allocated approximately 13.4% to private equity against a policy target of 12%.
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Helen Bascom is a Marketing Associate at Dakota.
