LSERS Allocates $50M to PC, VC Funds

Tags: Pension Funds, Private Credit, Private Equity, Venture Capital

The Louisiana School Employees’ Retirement System (LSERS) made an investment totalling $50M across three funds in private credit and venture capital.

Recently published public minutes from its August 19, 2024, meeting disclosed that LSERS committed $25M to Maverick Lien Fund VII, $15M to Drive Capital Overdrive Fund III, and $10M to Drive Capital Fund V. The allocations, recommended by CIO Matthew Freedman, were approved by unanimous vote following manager presentations and discussions with board, staff, and consultant Segal Marco.

Per the latest data from Dakota Marketplace, the Louisiana school pension manages overall plan assets valued at $2.2B.