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TRSL commits $250m to Ares, LS Power funds

The Baton Rouge-based public pension has backed two new private equity vehicles.

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Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $24.2 billion
Allocation to private equity: 23%

Teachers’ Retirement System of Louisiana has approved commitments of up to $250 million to private equity vehicles, a contact at the pension fund has confirmed.

The US public pension fund will commit $200 million to Ares Senior Direct Lending Fund III and up to $50 million to LS Power Equity Partners V. The pension has previously invested in funds from both Ares Management and LS Power Group.

As illustrated below, TRSL currently has an allocation of 23% to private equity, which is above its target of 19% of the pension’s $24.2 billion investment portfolio.

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