Louisiana Teachers' Retirement System, Baton Rouge, made two new commitments totaling up to $175 million, said Dana Brown, director of public markets.
The $18.7 billion pension fund committed up to $125 million to Blackstone Tactical Opportunities Fund III, an opportunistic alternatives fund managed by Blackstone Group, and up to $50 million to Roark Capital Partners V, a buyout fund managed by Roark Capital Group.
In 2016, the pension fund committed up to $50 million to Blackstone Real Estate Partners Europe V, and up to $125 million to GSO Capital Opportunities Fund III, a mezzanine debt fund managed by GSO Capital Partners, Blackstone's credit-oriented division. In July, the pension fund committed $12.5 million to Roark Capital Partners II Sidecar.
Separately, the pension fund named four finalists in its search for an active domestic small-cap growth equity manager to run about $350 million. The finalists are incumbent manager AllianceBernstein (AB), Brown Advisory, Geneva Capital Management and T. Rowe Price Group.
The pension fund issued a solicitation for proposals in September due to the impending expiration of AllianceBernstein's contract. Finalist interviews will take place at the pension fund's Nov. 30 board meeting, with a decision expected shortly thereafter.
Investment consultant Aon Hewitt Investment Consulting is assisting with the search.