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Alternative Assets  + Private Debt  + Real Estate  |  April 3, 2025
Louisiana Teachers Boosts Alts Investments with $250M in Real Estate, $150M in Credit 
Joe Palmisano
By: Joe Palmisano

Louisiana Teachers Boosts Alts Investments with $250M in Real Estate, $150M in Credit 

The Teachers’ Retirement System of Louisiana (TRSL) bolstered its private markets portfolios by committing $400 million to a mix of core real estate and credit funds in March 

TRSL allocated $250 million to Oaktree Real Estate Income Fund Feeder VI, managed by Oaktree Capital Management. This fund, embedded within Oaktree’s $16 billion real estate platform, targets core real estate investments and has expanded steadily since its launch in 2016. Its strategy centers on multifamily residential housing, industrial property, office buildings, and strategic alternatives. 

A $150 million allocation was made to HPS Strategic Investment Partners VI, a new junior credit fund managed by HPS Investment Partners. This fund, focused on junior capital solutions like mezzanine debt and preferred equity, also attracted a $200 million commitment from the Minnesota State Board of Investments (MSBI) in December 2024. HPS, a global credit-focused firm currently managing $148 billion in assets, is in the process of being acquired by BlackRock in a $12 billion all-stock deal announced in December 2024, set to close mid-2025. 

The $27 billion public pension fund maintains a $3.6 billion allocation to real estate and a $1.2 billion allocation to multi-asset credit within its $5.1 billion private markets portfolio. 

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Inside The Story

Teachers’ Retirement System of Louisiana

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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