Louisiana Teachers’ commits $100m to real estate funds
The $16.3 billion Teachers’ Retirement System of Louisiana has committed up to $50 million each to Crow Holdings Realty Partners VIII and Harbert U.S. Real Estate Fund VI.
Crow Holdings Realty Partners VIII, managed by Crow Holdings Capital, is a value-added, closed-end real estate fund that invests in U.S. real estate debt. The pension fund previously committed $50 million to the fund’s predecessor, Crow Holdings Realty Partners VII, in 2015.
Harbert U.S. Real Estate Fund VI, managed by Harbert Management Corp., is a value-added, closed-end fund that invests in U.S. office, industrial, multifamily and retail properties. This is the pension fund’s first commitment to Harbert Management Corp. The fund has an equity fundraising target of $500 million, according to