Louisiana Teachers' Retirement System, Baton Rouge, made three new commitments totaling up to $225 million, said Dana Brown, director of public markets.
The $20.9 billion pension fund committed up to $100 million to KPS Special Situations Fund V, a special situations fund that targets investments in underperforming, distressed or bankrupt lower- and middle-market companies managed by KPS Capital Partners.
The system committed up to $75 million to KPS Special Situations Fund IV in 2013.
The pension fund also committed up to $75 million to Cabot Industrial Fund VI, a real estate fund managed by Cabot Properties, and up to $50 million to Harbert U.S. Real Estate Fund VII, managed by Harbert Management.
The system committed up to $50 million to Cabot Industrial Core Fund II in 2018 and up to €50 million ($54.8 million) to Harbert European Real Estate Fund V in 2017.
As of June 30, the actual allocations to private equity/venture capital and real estate were 15% and 9%, respectively.
