Teachers’ Retirement System of Louisiana allots $75m for Lone Star Real Estate Fund VII

The Teachers’ Retirement System (TRS) of Louisiana has approved a first-time commitment of up to $75 million to Lone Star Real Estate Fund VII, a spokesperson for the pension fund confirmed.

Lone Star Real Estate Fund VII, a closed-end fund managed by Lone Star Funds, is expected to target debt and equity investments. The majority of the portfolio could include transactions in Europe, North America and Japan. Fund VII also could invest up to 15 percent of its capital in other markets around the globe.

The vehicle launched in February and has a fundraising target of $6 billion, according to the IREI.Q database.

TRS Louisiana has a combined 15 percent target allocation to private core and noncore real estate.