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The Teachers’ Retirement System of Louisiana’s (TRSL) investment committee has approved commitments to two value-add real estate funds, according to a September board meeting document.
On Sept. 5, the board voted to commit up to $50 million to Harbert U.S. Real Estate Fund VII, managed by Harbert Management Corporation (HMC), and $75 million to the Cabot Industrial Fund VI, managed by Cabot Properties.The $20.8 billion pension fund was unable to comment on its fundraising efforts.
The value-add HMC fund invests in CBD office, industrial, multifamily and retail assets across the southeastern and southwestern United States. It seeks smaller transactions, typically between $20 million and $80 million, that are too large for individual investors but too small for the larger funds.
