Louisiana Teachers commits $50m to core fund
The $16.3 billion Teachers’ Retirement System of Louisiana has committed $50 million to MetLife Core Property Fund, according to TRSL’s deputy CIO Maurice Coleman in an email.
The open-end fund, managed by MetLife Investment Management, will invest in core office, industrial, multifamily and retail properties across the United States. The pension fund previously committed up to $150 million to MetLife Core Property Fund in 2013.
The pension fund has a target allocation to real estate of 7 percent and an actual allocation of 9 percent, as of Sept. 30.