Louisiana Teachers invests $125 mln to Kohlberg, Castlelake funds

The system previously invested in a Kohlberg & Co. fund.

Teachers’ Retirement System of Louisiana at its December meeting backed private equity funds from Castlelake and Kohlberg & Company, according to the system’s Executive Liaison Officer Lisa Honoré.

The system committed up to $75 million to Castlelake Aviation IV Stable Yield, which focuses on the transportation industry in North America, Europe and Asia-Pacific.

Castlelake did not return a request for comment. Target size information was not available.

Louisiana Teachers also committed $50 million to Kohlberg Investors IX. The diversified fund launched this year, according to data from sister site Private Equity International.

Kohlberg’s previous flagship, Fund VIII, closed in $2.2 billion in 2016, surpassing its $2 billion target. The fund received a $75 million investment from Louisiana Teachers in 2016, Buyouts reported.

Target size was not available for Kohlberg IX. The company did not respond to a request for comment.

In October, Louisiana Teachers supported two buyout funds from Leonard Green & Partners, including $25 million to Jade Equity Investors, its $2 billion small-cap fund, and $50 million to Kohlberg Investors. Both funds invest in the business services, healthcare/wellness and consumer/retail sectors in North America, Buyouts reported.

Private equity and venture make up 16 percent of the system’s portfolio, as of July 31.