Insight

TRSL backs Sterling Group buyout fund with $100m commitment

The Baton Rogue-based public pension fund has made a new private equity commitment.

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Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $24.99 billion
Allocation to private equity: 22.7%

Teachers’ Retirement System of Louisiana has committed $100 million to Sterling Group Partners VI, a contact at the pension fund has confirmed.

The Sterling Group’s latest fund is targeting $2.75 billion after its predecessor closed above its $1.75 billion target on $2.06 billion in 2020. The fund will target buyouts of industrial companies in North America.

As illustrated below, the $24.99 billion US pension fund has a current allocation of 22.7 percent to private equity, which is well over its target of 19 percent.

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