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.
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