Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $25.4 billion
Teachers’ Retirement System of Louisiana has committed $150 million across two private equity funds, a contact at the pension confirmed.
At the pension’s September board meeting, it announced that it will be investing $125 million into HPS Investment Partners’ second special opportunities debt fund, HPS Special Situations Opportunity Fund II. The firm also invested $25 million to Ares Special Opportunities Fund II. This represents a top-up commitment as the pension previously committed $100 million to the fund in September 2021.
At the pensions meeting, it also outlined its target commitment pacing plan for 2023. Over the course of 2023, TRSL will commit $2.9 billion to $3.9 billion to private markets. TRSL will aim to invest:
- $700 million to $900 million across four to six distressed/mezzanine debt funds
- $400 million to $500 million across two to four direct lending funds
As illustrated below, the Baton Rouge-based pension’s recent private equity commitments have tended to focus on North America-based vehicles targeting distressed or Subordinated / mezzanine debt returns.
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