Investors - JANUARY 14, 2015

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Louisiana Teachers commits $70m to noncore real estate

by Reg Clodfelter

The Teachers’ Retirement System of Louisiana has committed $70 million to real estate, divided evenly between two commingled funds.

The retirement system committed $35 million to Related Real Estate Housing Fund II, an $850 million opportunistic fund that targets distressed loans that were originated for new development, property conversion and renovation, as well as equity positions in properties that require significant repositioning. 

“They had good performance in their first fund, they’ve demonstrated the ability to generate returns, and they have a team in place in the markets they invest in that give them great market information,” says Maurice J. Coleman, deputy chief investment officer at TRSL, explaining what set the fund apart from other potential investment options.

The fund’s strategy will utilize Related’s vertically integrated structure that allows the firm to carry out sourcing, due diligenc

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