Louisiana Teachers Pension Invests $650M in Real Estate
The Teachers’ Retirement System of Louisiana added $650 million to its real estate program through three funds. The portfolio, made up of core and opportunistic strategies, totals $3.2 billion.
The Smart Markets Fund, a core real estate strategy of Stockbridge Capital Group, received the largest allocation, totaling $400 million. According to a presentation made to trustees, the fund has remained underweight office and overweight industrial assets since its launch in 2011.
Mesirow Financial Real Estate Value Fund V and Sculptor Real Estate Fund V have also been approved for $125 million each.
The Mesirow Financial Real Estate Value Fund V is a sector-focused strategy that prioritizes value-added opportunities within the U.S. multifamily sector. Fund V, according to Mesirow, is utilizing the same value-added U.S. apartment sector strategy as its predecessors, Mesirow Financial Real Estate Value Funds I, II, III, and IV.
The Sculptor Real Estate Fund V is the most recent in a succession of funds that concentrate on opportunistic investments. Sculptor invests in real estate and real estate-related assets in Europe and North America.
