Louisiana Teachers' Retirement System, Baton Rouge, committed up to $50 million to Walton Street Real Estate Fund VII, confirmed Dana Brown, director of public markets.
The $12.8 billion system had committed $50 million to Walton Street Real Estate Fund VI in February 2008.
Separately, the retirement system next week will issue a solicitation for proposals for its first hedge fund consultant. The SFP will be posted on the fund's website.
Last June, the system's board approved a target allocation of 2% to hedge funds, its first such allocation. Mr. Brown said the system will work with the new consultant on how to allocate money to direct investments in hedge funds and/or hedge funds of funds.
Mr. Brown said a timetable for a decision has yet to be determined, but the board would like to have a consultant in place before the end of the system's fiscal year on June 30.