The $17.9 billion Teachers’ Retirement System of Louisiana has named Adam Averite as its new private assets manager to oversee its alternative asset portfolios, according to spokeswoman Lisa Honoré.
The new appointment comes after TRSL’s former private assets manager, Duke Williams, left the pension fund on May 11, according to news sources.
Averite joined TRSL in June 2015 as director of investment operations from the Louisiana State University Foundation. He was officially appointed private assets manager on May 15.
His new responsibilities include being the primary assistant to the director of private markets due diligence, working with the private market external asset manager Hamilton Lane, reviewing private asset performance and assisting with contact changes.
As of March 31, TRSL was at its target allocation to infrastructure, commodities and farmland of 3 percent.