Teachers’ Retirement System of Louisiana commits $125m to two real estate funds

Teachers' Retirement System of Louisiana (TRSL) has approved $125 million in commitments to two real estate funds, according to a document from TRSL’s June 30 meeting.

The investment parsed out $75 million to Torchlight Debt Fund VII and $50 million to Kayne Anderson Real Estate Partners VI (KAREP VI).

Torchlight Debt Fund VII, a value-add fund managed by Torchlight Investors, completed a $727 million first close last week. The fund is targeting real estate debt investments throughout the United States and has an equity fundraising target of $1.5 billion.

The investor base consisted predominantly of existing investors from previous funds in the series, but also included several new investors. TRSL is one of the returning investors, having committed $75 million to the fund’s direct predecessor, Torchlight