Louisiana School Employees' Retirement System, Baton Rouge, approved two new alternative fund commitments totaling $50 million.
The $2.1 billion pension fund's board approved commitments of $40 million to Landseer Insurance Co-Investment, a private equity co-investment fund managed by Landseer Advisors, and $10 million to Kinterra Battery Metals Mining Fund, a natural resources fund managed by Kinterra Capital, at its Aug. 21 meeting, said Matthew Freedman, chief investment officer, in an email.
LSERS previously committed $150 million to a private equity fund of one managed by Landseer in 2021. Kinterra Capital is a new manager for the pension fund, Mr. Freedman said.
As of March 31, the actual allocations to private equity and natural resources were12.7% and 12.3%, respectively; their respective targets are 12% and 6%.