TRSL confirms $125m commitment

The US public pension has backed Blackstone's latest tactical opportunities fund.

Institution: Teachers’ Retirement System of Louisiana
Headquarters: Baton Rouge, US
AUM: $25.90 billion
Allocation to alternatives: 37%

Teachers’ Retirement System of Louisiana has approved a $125 million commitment to Blackstone Tactical Opportunities IV, a contact at the pension informed Private Equity International.

The vehicle launched in Q1 2021 with a $4.5 billion target. Blackstone‘s Tactical Opportunities fund series invests globally across a variety of sectors, though the strategic focus is on equity, debt and mezzanine investments in special situations.

TRSL has a 14 percent target allocation to private equity that currently stands at 19 percent.

As illustrated below, TRSL’s recent private equity commitments have targeted predominantly global mezzanine and buyout funds.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy, and fund investments.