Louisiana TRS to Commit up to $4B to Alts in FY25

The Teachers Retirement System (TRS) of Louisiana reviewed its commitment pacing plan for fiscal year 2025, saying it will commit between $2.5B and $4B to alternatives, according to manager presentation materials from an August 26 investment committee meeting. 

In buyout strategies, the Louisiana TRS will target $400-$700M in investments across four to six funds, $150-$350M in the VC space between two and five funds, $600-$800M in distressed debt/mezzanine across four to six funds, and $200-$400M in direct lending across two to four funds. 

In infrastructure, the pension will target $150-$250M across two to four funds, in commodities it plans to target up to $100M in up to two funds, and in farmland strategies it plans to invest up to $150M across one to three funds.  

Within the real estate portfolio, the Louisiana TRS will target $350-$450M to core real estate exposures across one to two funds and $650-$750M in non-core real estate between five to seven funds. 

Hamilton Lane assisted with the recommendations. 

The commitment pacing plan comes as Louisiana TRS also recently approved $362M in commitments to three private equity strategies.

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