TRSL confirms $75m commitment

The US public pension has backed Carlyle's second credit opportunities offering.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $23.43 billion
Allocation to alternatives: 36%

Teachers’ Retirement System of Louisiana approved a $75 million commitment to Carlyle Credit Opportunities Fund II at its February 2021 board meeting, a contact at the pension informed Private Debt Investor.

Carlyle’s second credit opportunities fund is in market targeting $3.5 billion in capital commitments. The debut fund in the series held a final close on $2.4 billion in July 2019.

TRSL has an 8 percent target allocation to private debt that stood at 6 percent as of 31 December 2020, the most recently available allocation data for the pension.

As illustrated below, the $23.43 billion US public pension’s recent private debt commitments have primarily targeted funds focused on senior or subordinated lending.

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