TRSL approves $50m commitment to FCP Realty Fund V

The US public pension has backed Federal Capital Partners' fifth property vehicle.

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Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $24.04 billion
Allocation to alternatives: 37%

Teachers’ Retirement System of Louisiana confirmed a $50 million commitment to FCP Realty Fund V at its April 2021 meeting, a contact at the pension told PERE.

Federal Capital Partners‘ fifth value-add mezzanine property vehicle is in market targeting $950 million in capital commitments. The fund’s immediate predecessor held a final close at $755 million in November 2018.

TRSL has a 10 percent target allocation to real estate which stands at 9 percent.

The $24.04 billion US public pension’s recent real estate commitments have predominantly targeted North American vehicles seeking value-add and opportunistic returns.

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