Louisiana Teachers commits $50m to Stone Point

The Teachers’ Retirement System of Louisiana has committed $50 million to Stone Point Capital’s Trident Fund VI, a new relationship for the system, according to documents from the pension’s Thursday board meeting.

Stone Point is “one of the best names for us this year, Maurice Coleman, director of private markets at TRSL, told Private Equity International. “They provide a unique view on creating value”.

Stone Point represents a new relationship for the roughly $15.5 billion system, which also committed $100 million to infrastructure-focused Energy Capital Partners III and $70 million to two real estate-focused vehicles.

The Trident Funds make investments of between $50 million and $350 million in the global financial services industry, such as banks and depository institutions, asset management, and insurance distribution, according to Stone Point’s website.  The firm’s prior Trident funds raised $3.5 billion in 2010 and $2.25 billion in 2007.

Louisiana Teachers is on track to invest between $900 million and $1.1 billion in private equity during the fiscal year ending 30 June 2014. The pension fund has committed about $700 million to date, according to Coleman.