Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $24.15 billion
Allocation to real estate: 13%
Teachers’ Retirement System of Louisiana has made commitments of up to $150 million across two private real estate vehicles, a contact at the pension fund has confirmed.
At the pension’s June board meeting, it announced it would commit up to $75 million to Bain Capital Real Estate Fund III and up to $75 million to HIG Europe Realty Partners III.
Bain Capital Real Estate Fund III is a diversified value-add vehicle that will invest in North American opportunities.
HIG Europe Realty Partners III has a target of €1 billion and is a diversified fund that will invest in value-add opportunities in Europe.
The $24.15 billion US pension fund has a current allocation of 13 percent to private real estate, which is less than its target of 15 percent.
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