Louisiana Teachers' Retirement System's board approved two new commitments totaling up to $125 million at its meeting Thursday.
The $20.6 billion Baton Rouge-based pension fund committed up to $75 million to venture capital fund Insight Partners Fund XI and up to $50 million to JFL Equity Investors V, a buyout fund managed by J.F. Lehman & Co., said Dana Brown, director of public markets.
TRSL previously committed up to $50 million to Insight Venture Partners X. The JFL commitment is a first-time commitment to the manager for the pension fund.
As of Sept. 30, the actual allocation to private equity/venture capital was 15%; the target is 14%.