TRSL approve commitment of up to $200m

US pension fund approves new commitment to private debt vehicle.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, United States
AUM: $24.15 billion
Allocation to private debt: 8%

Teachers’ Retirement System of Louisiana has approved a new commitment of up to $200 million to Ares Senior Direct Lending Strategy Fund III, a contact at the pension fund has confirmed.

TRSL has previously invested in Ares Management’s Special Opportunities Fund II and its predecessor. However, the Ares Senior Direct Lending Fund III will use a senior debt strategy within North America focusing on the US.

The pension funds recent private debt commitments also tend to focus on North American vehicles typically within a corporate sector as illustrated below.

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