TRSL confirms $125m commitment

The US public pension has backed Blackstone's latest tactical opportunities fund.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $25.90 billion
Allocation to alternatives: 37%

Teachers’ Retirement System of Louisiana has approved a $125 million commitment to Blackstone Tactical Opportunities IV, a contact at the pension informed Private Debt Investor.

The vehicle launched in Q1 2021 with a $4.5 billion target. Blackstone‘s Tactical Opportunities fund series invests globally across a variety of sectors with the strategic focus on equity, debt and mezzanine investments in special situations.

TRSL has an 8 percent target allocation to private debt which currently stands at 6 percent.

As illustrated below, TRSL’s recent private debt commitments have predominantly targeted vehicles pursuing subordinated or mezzanine lending strategies.

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