Louisiana commits $75m to Babson mezz fund

Babson Capital Management’s Tower Square Fund IV is targeting $1.6bn for lower mid-market mezzanine investments.

The Teachers’ Retirement System of Louisiana has committed $75 million to Tower Square Capital Partners IV, according to documents from the pension’s investment consultant Hamilton Lane.

Tower Square Fund IV is managed by Babson Capital Management. The fund is targeting $1.6 billion for lower mid-market mezzanine investments and must raise at least $750 million for Louisiana Teachers to commit $75 million, according to the documents.