Insight

LASERS approves $300m in commitments

The Baton Rouge-based public pension fund has backed three distinct private market vehicles.

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Institution: Louisiana State Employees’ Retirement System
Headquarters: Baton Rouge, US
AUM: $13.1 billion
Allocation to alternatives: 21.7%

Louisiana State Employees’ Retirement System has approved $300 million-worth of commitments to three private equity vehicles, a contact at the pension informed affiliate title Private Equity International. 

The commitments comprise $100 million apiece to Glendower Capital Secondary Opportunities Fund V, KKR North American Fund XIII and Insight Partners XII. The commitments took place following the pension’s March and April 2021 board meetings.

KKR‘s North American buyout vehicle is currently in market seeking $14 billion in capital commitments. According to Buyouts, the fund manager has so far raised $1.2 billion of LP commitments.

Louisiana State Employees’ currently allocates 21.7 percent of its total portfolio to private markets.

As illustrated below, The $13.1 billion US public pension’s recent fund commitments have targeted well-dispersed private equity strategies across multiple sectors and regions.

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