Louisiana TRS commits $75m to Kayne Anderson fund

The $18.5 billion Teachers’ Retirement System of Louisiana has committed $75 million to Kayne Anderson Real Estate Partners V, according to Lisa Honoré, public information director for the pension fund.

Kayne Anderson Real Estate Partners V, managed by Kayne Anderson Capital, is an opportunistic real estate fund that invests in medical office, senior housing and student housing throughout the United States. The fund opened in the second half of 2016 and is expected to close in the first quarter of 2018.

The fund’s predecessor, Kayne Anderson Real Estate Partners IV, held a $1 billion final close in 2015, reaching its fundraising target. TRSL previously committed $35 million to the fund.

TRSL has a target allocation to real estate of 10 percent.