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Alternative Assets  + Real Estate  | 
Louisiana Teachers Adds $125M to Core-Plus Real Estate Sleeve

Louisiana Teachers Adds $125M to Core-Plus Real Estate Sleeve

The Teachers’ Retirement System of Louisiana is continuing to lean into real estate as a core component of its alternatives strategy, approving a $125 million commitment to Bell Partners Growth and Income Fund at its latest trustee meeting. 

The $30 billion pension allocates roughly half of its portfolio to alternatives and real estate, totaling about $15 billion. The system delivered a 12% return for the fiscal year ending Jan. 31, 2026, with its $4.5 billion real estate portfolio contributing modest gains of just over 2%. 

The Bell Partners fund, a core-plus multifamily strategy, targets stabilized apartment assets across U.S. markets with strong supply-demand fundamentals, while reserving a portion of the portfolio for value-add and build-to-hold opportunities. The fund is targeting a net IRR of at least 9% with maximum leverage of 50%. 

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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.