TRSL backs Blackstone’s latest debt fund

The Baton Rogue pension fund has made a new commitment to private debt.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $24.48 billion
Allocation to private debt: 8%

Teacher’s retirement system of Louisiana has made a new commitment of $100 million to Blackstone Senior Direct Lending Fund, a contact at the pension confirmed.

Blackstone’s Senior Direct Lending Fund was launched in April 2023 and has a target size of $10 billion. The fund is a corporate senior debt vehicle targeting investments in North America.

TRSL has made previous commitments to private debt vehicles by Blackstone including $125 million Blackstone Tactical Opportunities Fund IV in May 2021 and $100 million to Blackstone Capital Opportunities Fund IV.

The $24.48 billion public pension has a current allocation of 8 percent to private debt, which is under its target of 9 percent. TRSL recent private debt commitments have tended to focus on senior debt strategies in North American regions as shown below.

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