Louisiana Retirment System Parks $350M into Private Equity

The Teachers’ Retirement System of Louisiana (TRSL) three strategic private equity allocations in August. The $26 billion system has $4.3 billion in private equity investments, and in this current round of mandates, Hamilton Lane recommended a middle market buyout approach, a growth equity fund, and a Europe-focused product.

TRSL committed $100 million to Thomas H. Lee Partners’ THL Equity Fund X. The firm invests in middle-market buyout opportunities, with a focus on fintech, healthcare, technology, and business services. Another $100 million was allocted to Summit Partners Growth Equity XII, the firm’s flagship strategy that will continue to invest in technology, healthcare and life sciences, as well as growth products and services companies.

Intermediate Capital Group’s ICG Europe Fund IX received a $150 million mandate. The fund is based on the London firm’s 30-plus year track record of providing “flexible capital solutions” to enterprises throughout Europe.

The Baton Rouge-based pension is almost $1 billion over its projected 12% allocation to the asset class.