The Teachers' Retirement System (TRS) of Louisiana has approved three commitments on behalf of its private markets portfolio.
The pension fund has allocated up to $100 million to Berkshire Bridge Loan Investors III, a real estate debt fund managed by Berkshire Residential Investments; and up to $75 million each to Harbert U.S. Real Estate Fund VIII, a real estate fund managed by Harbert Management Corporation (HMC), and Waterton Residential Property Venture XV (Waterton XV), a value-added real estate fund managed by Waterton.
Berkshire Bridge Loan Investors II (BBLI II), is focused on continuing Berkshire’s multifamily direct-lending strategy, which provides financing for multifamily assets in the U.S., including senior mortgages, mezzanine debt and preferred equity. The $1.47 billion fund completed its final close in April 2021.
HMC and its affiliates have owned, developed and managed multifamily, office, industrial, retail and hotel properties throughout the
