Louisiana Teachers commits to European fund
The Teachers’ Retirement System of Louisiana (TRSL) has approved a $50 million commitment to Blackstone Real Estate Partners Europe IV (BREP Europe IV), managed by The Blackstone Group. Maurice Coleman, director of private markets at TRSL, has confirmed the commitment.
The $14.9 billion pension fund has made numerous commitments to funds managed by Blackstone in the past, including a $75 million commitment to Blackstone Real Estate Debt Strategies II this past June. “We have a broader longstanding relationship with Blackstone,” comments Coleman. “When we look at our overall global portfolio, we don’t have a lot of European exposure at this time, so [this commitment] gives us exposure in an area we like with a team that we have a longstanding relationship with.”
The pension fund, managed by