Firms & Funds

Louisiana Teachers commits $100 mln to KPS fund

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Teachers’ Retirement System of Louisiana backed a fund from KPS Capital Partners at its September meeting, Executive Liaison Officer Lisa Honoré told Active LPs.

The system committed up to $100 million to KPS Special Situations Fund V. The fund focuses on control buyouts of distressed companies in North America, Europe and Asia-Pacific, according to research from Private Equity International. Target size for the fund wasn’t available.

TRSL invested $75 million to KPS Special Situations Fund IV in 2013, according to PE HUB. The fund closed with $3.5 billion, exceeding its $3 billion target, in 2013.

Private equity/venture makes up 16 percent of Louisiana’s portfolio, surpassing its 14 percent allocation target, as of July 31.