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Louisiana TRS commits $50m to Blackstone real estate fund
Investors - NOVEMBER 7, 2018

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Louisiana TRS commits $50m to Blackstone real estate fund

by Jody Barhanovich

The $20.5 billion Teachers’ Retirement System of Louisiana has committed $50 million to Blackstone’s ninth real estate fund, according to Lisa Honoré, executive liaison officer for the retirement system.

Blackstone Real Estate Partners IX is a global opportunistic real estate fund. It will target assets throughout the United States and Canada, with some interest in Europe and Asia.

The fund is the ninth in the opportunistic series. The previous fund in the series, Blackstone Real Estate Partners VIII, held a $15.8 billion final close in 2015.

The Teachers’ Retirement System of Louisiana has a target allocation to real estate of 10 percent, with an actual allocation of 8 percent, as of Sept. 30, 2018. Louisiana TRS’ real estate portfolio makes up $1.684 billion of its total assets.

 

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