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LSERS approves $35m in commitments

The US public pension has backed two funds of a Texas based private real estate investment firm.

Institution: Louisiana School Employees’ Retirement System
Headquarters: Baton Rouge, United States
Total AUM: $1.87bn
Allocation to Alternatives: 21.0%
Bitesize: $10-50m

LSERS has agreed to commit $25 million to Pennybacker V and $10 million to Pennybacker Extended Investment Vehicle, according to a source within the retirement system.

Headquartered in Austin, Pennybacker Capital targets US value-add opportunities in commercial and multifamily sectors.

The $1.87 billion public pension currently allocates 12.0% of its funds to real estate.

As illustrated in the charts below, the Pension most recently committed to Siguler Giff Distressed Real Estate Opportunities Fund IIB, Highbrook Property Fund III, and Henderson Park Real Estate Fund I, all with vintage year of 2017.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.