Louisiana Teachers' Retirement System, Baton Rouge, made two new real estate commitments totaling up to $125 million, said Dana Brown, director of public markets.
The $19.8 billion pension fund committed up to $75 million to Blackstone Real Estate Partners Europe VI, a European opportunistic real estate fund managed by Blackstone Group, and up to $50 million to Rockpoint Real Estate Fund VI, a value-added real estate fund managed by Rockpoint Group.
The pension fund previously committed up to $50 million to Blackstone Real Estate Partners Europe V in 2016 and up to $50 million to Rockpoint Real Estate Fund V in 2015. As of Jan. 31, the actual allocation to real estate was 9%.
Separately, the pension fund named Dodge & Cox, current manager Loomis, Sayles & Co. and Manulife Asset Management as finalists in its search for an active domestic core-plus fixed-income manager to run $350 million. The pension fund issued a solicitation for proposals in January due to the pending expiration of Loomis Sayles' contract. The finalists will make presentations at the board's April 5 meeting, with a decision expected to follow shortly thereafter. As of Jan. 31, the actual allocation to domestic fixed income was 8%.
Investment consultant Aon Hewitt Investment Consulting is assisting with the fixed-income search.