Louisiana Teachers commits up to $275 mln to private markets

  • AUM: $19.5 bln
  • PE allocation: 15 pct; target 14 pct
  • Whom to contact: Lisa Honore at lisa.honore@trsl.org

Teachers’ Retirement System of Louisiana at its May meeting pledged up to $275 million across asset classes, Executive Liaison Director Lisa Honore told Buyouts.

Louisiana committed $100 million to Platinum Equity’s fifth flagship fund, targeting $8 billion. New Enterprise Associates XVII, a venture fund targeting $3.6 billion, according to an SEC filing, and focusing on healthcare and technology, received a $25 million commitment.

TRSL also backed Summit Partners’ third credit fund and Torchlight Investors’ Debt Opportunity Fund VI, with $75 million each, according to Honore.

In April, the nearly $20 billion system issued a solicitation for proposals to find a consultant to manage its private-market investments after its contract with Hamilton Lane expires at the end of the year, Buyouts reported.

“A subcommittee was appointed at the May meeting to review SFP responses received for private markets manager at the June meeting,” Honore said.

Private equity makes up 15 percent of Louisiana’s portfolio, exceeding its 14 percent allocation target.