Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $27.2 billion
Allocation to alternatives: 39%
Teachers’ Retirement System of Louisiana formalised a commitment of $75 million to Kelso Investment Associates XI at its October board meeting, a contact at the pension informed Private Equity International.
Kelso & Company, a New-York-based investment firm, launched its 11th-series buyout fund in September 2021. Its predecessor, Kelso Investment Associates X, held a final close at $2.48 billion of investor capital in 2019, just under its target of $2.5 billion.
TRSL has a 14 percent target allocation to private equity, with a current allocation to the asset class of 21 percent.
As illustrated below, TRSL’s recent private equity commitments have tended to focus on North American debt vehicles across a diversified investment portfolio.
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