Louisiana Teachers commits $275m to real estate funds

The Teachers’ Retirement System of Louisiana (TRSL) has committed $150 million to Brookfield Strategic Real Estate Partners (BSREP) V, $75 million to Bain Capital Real Estate Fund (BCREF) III and $50 million to Cabot Industrial Value Fund (CIVF) VII.

Managed by Brookfield Asset Management, BSREP V is seeking to raise $15 billion and will invest opportunistically in diversified sectors globally.

Its predecessor, BSREP IV, closed in 2022 with $17 billion of raised capital, the largest real estate fund to close that year.

BCREF III is targeting a $3.75 billion capital raise and is seeking to invest in life sciences office/lab space, medical office, senior housing, last-mile industrial, self-storage, affordable housing and media/content creation space.

The fund is investing primarily in North America with a 25 percent limit on investments outsi