Note: This article was reposted at 7pm on January 28, 2020 to correct a series of errors made in the original post. It was originally believed that Gray Television made the SEC filing. It did not; the Teacher’s Retirement System of Alabama made the filing. Second, RSA actually lowered its shares in Gray from about 10 million to the amount reflected in the new SEC filing. RBR+TVBR regrets the errors.
DELRAY BEACH, FLA. — The Teachers’ Retirement System of Alabama has made its mark in recent years for what The Wall Street Journal recently called its “alternative investments.”
This includes golf courses, small newspapers, hotels in Alabama, a high-rise in New York City, and, infamously, the luxury dine-in cinema company iPic Entertainment.
The RSA won control of bankrupt iPic, in lieu of millions of dollars owed to Alabama teachers’ pension payments. Some $221 million was put into iPic, gaining control in a Delaware bankruptcy court.
The RSA also has a chunk of money in one of America’s top TV broadcasting companies.