Louisiana Teachers’ commits $350m to private equity

Hamilton Lane will allocate to five funds on behalf of the pension

The Teachers’ Retirement System of Louisiana is committing $350 million to private equity and is considering a co-investment with Blackstone, according to meeting documents from October and November obtained by PEI.

Hamilton Lane will make the commitments on behalf of the pension system.

Up to $50 million will go to NGP Natural Resources XI; the vehicle has a $4.5 billion target. The fund focuses primarily on upstream oil and gas assets in North America. NGP is owned by NGP professionals and the Carlyle Group. Other investors in the fund include Ohio Police & Fire, and the Pennsylvania Public School Employees’ Retirement System.

Up to $100 million will go to American Securities Partners VII, which has a $4.0 billion target. The fund focuses on large corporate finance and buyout transactions in North America.

Up to $50 million will go to Insight Venture Partners IX, which has a $2.75 billion target and focuses on growth equity investments. Known investors in the fund include the Pennsylvania State Employees’ Retirement System.

Up to $100 million will go to Kelso Investment Associates IX, which has a $2.5 billion target. Known investors the middle-market buyout fund include the New Mexico Public Employees Retirement Association, and the Maine Public Employees Retirement System.

Finally, $50 million will go to the H.I.G Bayside Loan Opportunity Fund IV, a $1 billion distressed debt vehicle.

On the venture side, the pension committed $100 million in two $50 million tranches to Lightspeed Venture Partners; GGV Capital; Insight Venture Partners Coinvestment Fund; Spark Capital; JMI Equity; Polaris Partners, and Khosla Ventures.

The pension is also considering a follow-on investment of $2 million to Blackstone CPQ.