Louisiana Teachers commits $525m to real estate funds

The Teachers’ Retirement System of Louisiana (TRSL) has committed $400 million to TA Realty Core Property Fund and $125 million to Kayne Anderson Real Estate Partners VII.

Managed by TA Realty, TARCPF is an open-end fund that was launched in 2018 and that invests with a value-added strategy in industrial, multifamily, office and retail (grocery-anchored) sectors in major U.S. metropolitan areas. The fund has an overweight allocation to industrial, multifamily and grocery-anchored retail and significant underweight to office.

KAREP VII is managed by Kayne Anderson Capital Advisors and is seeking to raise $3 billion to invest with a value-add strategy in medical office, senior housing and student/multifamily housing in the United States.

The TRSL has invested in multiple offerings of the KAREP fund series, including a $50 million commitment to KAREP VI in 2020, a $75 million commitment to KAREP V in 2017 and a $35 million commitment to KAREP IV in 2015.

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