Louisiana Teachers' Retirement System, Baton Rouge, agreed to commit $225 million to three alternatives funds and invest $100 million in a mortgage-backed securities strategy, spokeswoman Lisa Honore said.
The $20.5 billion pension fund committed up to $100 million to GSO Capital Opportunities Fund IV, a mezzanine fund managed by GSO Capital Partners; $75 million to Torchlight Debt Opportunity Fund VII, a real estate debt fund managed by Torchlight Investors; and $50 million to Kayne Anderson Real Estate Partners VI, an opportunistic real estate fund managed by Kayne Anderson Capital Advisors.
The board also approved an initial investment of $50 million in a mortgage-backed securities strategy managed by Principal Real Estate Investors and approved an additional $50 million investment to the strategy should credit spreads widen.
