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TRSL confirms $75m commitment

The Baton Rouge-based public pension has backed a value-add real estate vehicle.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: 
Baton Rouge, US
AUM: 
$27.26 billion
Allocation to alternatives:
41%

Teachers’ Retirement System of Louisiana committed $75 million to Cabot Industrial Value Fund VII at its April board meeting, a contact at the pension confirmed to PERE.

Fund VII, managed by Cabot, will invest into value-added industrial opportunities across Europe, North America and Asia-Pacific. TRSL has previously invested into Cabot’s Industrial Fund series, investing $50 million in Fund VI.

TRSL has a 10 percent target allocation to real estate with a current allocation to the asset class of 9 percent.

As illustrated below, TRSL’s recent real estate commitments have tended to focus on North American vehicles across a variety of sectors and strategies.

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