TRS Louisiana backs Centerbridge, Sares Regis funds
The $27.2 billion Teachers’ Retirement System (TRS) of Louisiana has put a total of $135 million in two real estate funds, according to an Oct. 7 meeting document.
TRS Louisiana invested $70 million in Centerbridge Partners Real Estate Fund II, managed by Centerbridge Partners, and $65 million in Sares-Regis Multifamily Value-Add Fund IV, managed by Sares-Regis Multifamily Funds.
Centerbridge Partners Real Estate Fund II is seeking to raise $2 billion in capital commitments to invest in real estate assets in the United States. The first fund in the series, Centerbridge Partners Real Estate Fund, closed in March 2019 with $894 million in capital commitments, against a target of $1 billion.
Sares-Regis Multifamily Value-Add Fund IV will invest in multifamily properties throughout the western United States. That fund’s predecessor, the Sares-Regis Multifamily Value-Add Fund III, completed i