TRSL backs Berkshire’s latest credit fund

The Baton Rouge-based public pension has committed $100m to Berkshire's latest debt fund.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $23.3 billion

Teachers’ Retirement System of Louisiana has committed $125 million to Berkshire Residential Investment‘s latest debt fund, a contact at the pension confirmed.

At the pension’s September board meeting, TRSL announced that it will be investing $100 million in Berkshire Bridge Loan Investors III. The fund, which launched this year, will invest in the multifamily sector in North America, seeking debt returns. Its predecessor fund surpassed its $1 billion target and closed on $1.47 billion in April 2021.

As illustrated below, the Baton Rouge-based pension’s recent private real estate commitments have tended to focus on North American vehicles targeting debt or value-add returns.

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