The Louisiana Employees Retirement System (LSERS) has committed $10 million to RRA Real Estate Debt Fund III, according to meeting materials.
RRA Real Estate Debt Fund III, a vehicle of RRA Capital, is a closed-end fund that will invest in real estate debt in the United States. The fund has a fundraising goal of $500 million. RRA Real Estate Debt Fund II, its predecessor, raised $135 million in equity.
LSERS is a public pension fund with $2.3 billion in total assets under management, as of Sept. 30, 2024. As of then, it had an 8 percent real estate allocation target and $223.1 million in total real estate assets.
Note: A previous version of this story listed a second commitment to EQT Exeter Europe Logistics Value Fund V. This commitment was made by the Teachers' Retirement System of Louisiana.
