Louisiana Teachers' Retirement System, Baton Rouge, approved new alternative commitments totaling up to $325 million, said Dana Brown, director of public markets.
The $20.5 billion pension fund committed up to $75 million each to Ares Special Opportunities Fund, a private debt fund managed by Ares Management; Audax Mezzanine Fund V, a mezzanine debt fund managed by Audax Group; and buyout fund Silver Lake Partners VI.
The pension fund also committed up to $50 million to Crow Holdings Realty Partners IX, a value-added real estate fund managed by Crow Holdings Capital Partners; and up to $25 million each to venture capital fund Summit Partners Venture Capital Fund V and buyout fund Thoma Bravo Discover Fund III.
As of Feb. 29, the actual allocations to private equity/venture capital, real estate and private market debt were 17%, 9% and 6%, respectively.
