Arkansas Public Employees' Retirement System

Arkansas Public Employees' Retirement System

The Arkansas Public Employees' Retirement System was established by Act 177 of 1957 to administer retirement benefits for state and local public employees. Amy Fecher leads day-to-day operations as Executive Director, supported by Chief Investment Officer Carlos Borromeo and a board chaired by State Treasurer Larry Walther. The system targets a 5 percent allocation to private equity and maintains positions in secondaries vehicles such as HarbourVest Dover Street XI and NB Arkansas PERS FOO. Real-estate exposure runs through open-ended funds including Carlyle Property Investors, Lion Industrial Trust, Principal Enhanced Property Fund, and Invesco Core Real Estate-USA. Farmland and timberland holdings include PGIM U.S. Agriculture, IFC Core Farmland Fund, and Pinnacle Forest Investments, all located in the United States. Public equity positions reported as of June 30, 2024 feature Microsoft at approximately $140 million, Amazon at $135 million, and NVIDIA at $130 million. The organization employs 35 staff at its Little Rock headquarters. It retains Callan Associates as investment consultant, BNY Mellon as custodian, and Gabriel, Roeder, Smith & Co. as actuary. In December 2024 the board reviewed investment performance and private-market commitments during its quarterly meeting. The system also participates in the National Association of State Retirement Administrators and the Council of Institutional Investors. Governance rests with a board of trustees that includes elected officials and gubernatorial appointees, creating a direct statutory link between investment decisions and state fiscal oversight rather than a delegated foundation or family structure.