
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%.