TRSL approves $75m commitment

The US public pension has backed a North American and European-focused private debt fund.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, United States
AUM: $19.51bn
Allocation to alternatives: 33.00%

Teachers’ Retirement System of Louisiana (TRSL) has agreed to commit up to $75 million to Castlelake Income Opportunities Fund, as disclosed to Private Debt Investor by a contact at the firm. The debt-focused fund is managed by Castlelake and focuses on investments in North America and Europe.

The $19.51 billion US public pension has a 6.0 percent current allocation to private debt, with an 8.0 percent target.

TRSL has made six commitments focused on private debt with a vintage of 2018, which combined constitute $460 million.

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