TRSL confirms $150m in commitments

The US public pension has backed two private debt funds in its latest commitments round.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, United States
AUM: $18.72bn
Allocation to alternatives: 41.0%
Bitesize: $50-100m

Teachers’ Retirement System of Louisiana has confirmed $150 million-worth of private debt commitments across a pair of vehicles, a contact at the pension informed Private Debt Investor.

TRSL has committed $75 million each to Ares Special Opportunities Fund and Audax Mezzanine Fund V.

The $18.72 billion US public pension has a 8.0 percent target allocation to private debt that currently stands at 7.0 percent.

As illustrated below, TRSL’s last five commitments to private debt funds have been directed to two vehicles focused on acquiring distressed debt alongside three vehicles concerned with debt issuance. The latter vehicles comprise of two with a senior debt focus and one focused on mezzanine debt.

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