Louisiana Teachers’ outlines private debt pacing plans for H1 2021

The US public pension's fiscal commitment target pacing means it can commit up to a further $400m to the asset class by June 2021.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $22.82 billion
Allocation to alternatives: 37%

Teachers’ Retirement System of Louisiana has set out its proposed private debt capital commitment pacing plans for the first half of 2021, according to documents provided by the pension to Private Debt Investor.

TRSL’s target capital commitment to private debt for the fiscal year June 2020 to June 2021 stands at $450 million-$550 million.

Between June 2020 and January 2021, the pension made three commitments to the asset class: $50 million each to Castlelake V Dislocated Opportunities, Balance Point Capital Partners V and ICG Recovery Fund II. This leaves capacity for $300 million-$400 million-worth of potential private debt fund commitments between February and June 2021.

The $22.82 billion US pension’s target allocation for the asset class is 8 percent, with actual allocation standing at 7 percent.

TRSL’s recent private debt fund commitments have tended to focus on North American vehicles pursuing senior lending.

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