Louisiana Teachers’ Retirement Pumps $150M into PE, Infra
The Teachers’ Retirement System of Louisiana continues to expand its alternative investment program, most recently allocating $150 million in two funds.
The board of the $25 billion pension fund approved a $100 million commitment to Sterling Group Partners VI, a fund managed by middle market private equity firm The Sterling Group. The strategy targets corporate carve-outs and family businesses.
A $50 million commitment was made to Stonepeak Infrastructure Fund V, a fund managed by infrastructure and real assets focused Stonepeak. The fund targets the communications, transportation and logistics, and energy transition sectors across North America.
The pension fund has more than $9 billion invested in alternative investments, which returned 5.9% over the year ending October 31, 2023.
Consultant Hamilton Lane recommended the allocations to trustees.