Louisiana Teachers' Retirement System, Baton Rouge, made four new private markets commitments totaling up to $275 million, said Dana Brown, director of public markets.
The $20.2 billion pension fund committed up to $100 million to buyout fund Platinum Equity Capital Partners V; up to $75 million each to middle-market credit fund Summit Partners Credit Fund III and Torchlight Debt Opportunity Fund VI, a real estate debt fund managed by Torchlight Investors; and up to $25 million to venture capital fund New Enterprise Associates 17.
The pension fund previously committed up to $100 million to Platinum Equity Capital Partners IV in 2016, up to $75 million to Summit Partners Growth Equity Fund X in February and up to $50 million to New Enterprise Associates 16 in 2017. The Torchlight commitment is a first for the pension fund to the manager.
As of Feb. 28, the pension fund's actual allocations to private equity/venture capital, real estate and private market debt were 15%, 9% and 5%, respectively.