Louisiana Teachers Earmark $725M for Alts
The Louisiana Teachers’ Retirement System (LTRS) has pledged $725 million towards four new alternative asset funds.
London-based Bridgepoint Capital will receive up to $100 million from the $26 billion pension fund for its fifth middle-market buyout fund, Bridgepoint Development Capital V.
The firm has not revealed a fund target, although it may aim to outperform its 2020 predecessor’s $1.5 billion hard cap, which closed 50% higher than expected.
A $45 million follow-on commitment was made to NGP Natural Resources XIII, an energy-focused private equity fund run by NGP Energy Capital Management. LTRS previously contributed $30 million to the $1.5 billion-targeting Fund XIII, which NGP touts as a bid to capitalize on “one of the most favorable energy investment environments in decades.”
An additional $100 million was earmarked for OHA Senior Private Lending, a private credit fund run by Oak Hill Advisors. The fund is apparently looking to invest up to $2 billion in senior sections of financial transactions.
TA Realty Core Property Fund, an open-ended real estate fund, has been offered up to $400 million. TA Realty stated that its primary open-end assets are centered in strategic U.S. areas, with a focus on “steady growth and income generation.”
As of February, the fund’s allocation to alternative assets and real estate was 47.4%.