The Teachers’ Retirement System of Louisiana has committed $50 million to middle-market infrastructure, continuing to build out its real assets and alternatives exposure amid a steady push to diversify portfolio returns. 

The $29 billion public pension, based in Baton Rouge, received trustee approval last week for the allocation to Stonepeak Opportunities Fund II, marking Stonepeak’s first mandate within the system’s real assets program. Louisiana Teachers’ alternatives and real estate portfolio now totals approximately $15 billion, reflecting the growing role of private markets in the plan’s long-term strategy. 

The pension reported a 7.4% return for the fiscal year ended November 30, 2025. 

Stonepeak Opportunities Fund II targets core-plus and value-add investments across the middle-market infrastructure landscape, with an emphasis on control investments and structured capital solutions. The strategy focuses on assets in communications, transportation, logistics, energy, and energy transition, primarily across North America and Europe. Stonepeak’s inaugural fund in the strategy closed in 2024 with $3.15 billion in commitments. 

The commitment follows a series of recent real asset allocations by Louisiana Teachers, including investments with Cabot Properties and Oaktree Capital Management’s real estate income strategy.