TRSL backs Carlyle’s latest credit fund

The Baton Rouge-based public pension has committed $125m to Carlyle's latest debt fund.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $23.3 billion

Teachers’ Retirement System of Louisiana has committed $125 million to Carlyle’s latest debt fund, a contact at the pension confirmed.

At the pension’s September board meeting, TRSL announced that it will be investing $125 million into Carlyle Credit Opportunities Fund III. The fund, which launched this year, will be investing into Western Europe and North America, seeking debt returns. Its predecessor fund surpassed its $3.5 billion target and closed on $4.6 billion in March 2022.

As illustrated below, the Baton Rouge-based pension’s recent private equity commitments have tended to focus on North America-based vehicles targeting debt or buyout returns.

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