Louisiana Teachers' Retirement System, Baton Rouge, approved new alternative fund commitments totaling up to $335 million, said Dana T. Brown, director of public markets, in an email.
The $24.5 billion pension fund's board at its March 31 meeting approved commitments of up to $125 million to North Haven Credit Partners IV, a private credit fund managed by Morgan Stanley Investment Management; up to $75 million to European buyout fund CVC Capital Partners Fund IX; up to $50 million each to middle-market private credit fund Balance Point Capital Partners VI and Plexus Fund VI, a mezzanine debt fund managed by Plexus Capital; and up to $35 million combined to oil and gas funds Quantum Energy Partners VIII and Quantum Energy Partners VIII Co-Investment Fund.
The pension fund previously committed $100 million to North Haven Credit Partners III in 2021, up to $75 million to CVC Capital Partners Fund VIII in 2020, and up to $50 million to Balance Point Capital Partners V in 2020. Plexus Capital and Quantum Energy Partners are new managers for the pension fund.
As of Feb. 28, the pension fund's actual allocations to private equity/venture capital and infrastructure/commodities/farmland were 23% and 5%, respectively; their respective targets are 19% and 7%.