LSERS approves $50m commitment

The US public pension has backed Phoenix Capital Holdings' latest private real estate vehicle.

Institution: Louisiana School Employees’ Retirement System
Headquarters: Baton Rouge, United States
Total AUM: $2.14 billion
Allocation to alternatives: 16%

Louisiana School Employees’ Retirement System has agreed to commit up to $50 million to Phoenix Real Estate Fund X, a contact at the pension confirmed to PERE.

The fund’s predecessor, Phoenix Real Estate Fund IX, held a final close at $282 million in January 2020, exceeding its $275 million target.

As illustrated below, LSERS allocates 12 percent of its full investment portfolio to private real estate. The pension’s recent commitments to private real estate have been to vehicles that primarily employ a value-added or opportunity strategy targeting investments in North America and Europe.

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