Louisiana TRS Allocates $100M to PC Fund, Plans Private Markets Consultant RFP

The Teachers Retirement System (TRS) of Louisiana has allocated $100M to a direct lending fund and is preparing to issue a new RFP for a private markets manager to lead consultation on its $13B alternatives and real estate investment portfolio.

Items related to the pension’s investment committee meeting on January 9 showed that it is making the investment in Arcmont Direct Lending V, while also looking to commence the private markets manager search in anticipation of Hamilton Lane’s contract expiration in the role on December 31. The pension said it will be soliciting proposals for both private equity/private credit and real assets/real estate managers, and may accept proposals from managers interested in fulfilling one or both roles.

The TRS is expected to issue the notice on February 10 on a March 10 deadline for proposals. Finalists are set to be interviewed on June 12 for board approval of successful candidates on June 13.