TRSL approves $50m commitment

The US public pension has backed a Europe-focused logistics vehicle.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $22.82 billion
Allocation to alternatives: 37%

Teachers’ Retirement System of Louisiana approved a $50 million commitment to Exeter Europe Logistics Value Fund IV at its January 2021 investment committee meeting, a contact at the pension informed PERE.

Exeter Property Group‘s fourth logistics-focused, value-add property fund launched in July 2020 and is in market targeting €1.25 billion in equity capital.

TRSL has a 10 percent target allocation to real estate that currently stands at 8 percent.

As illustrated below, the $22.82 billion US public pension’s real estate commitments have tended to target predominantly North American vehicles pursuing either value-add or opportunistic returns.

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