Investors - SEPTEMBER 12, 2014

TRSL adds $100m to its infrastructure portfolio

by Reg Clodfelter

The $17 billion Teachers’ Retirement System of Louisiana has committed $100 million to Blackstone Energy Partners II, managed by The Blackstone Group, says Maurice J. Coleman, director of private markets at TRSL.

Not much has been made public about the fund, though it will reportedly be larger than its predecessor, which closed in September 2012 after raising $2.5 billion. BEP I, which received a $75 million commitment from TRSL, targets control and control-oriented equity investments within the energy and natural resources sector on a global basis. TRSL has also committed to five of Blackstone’s real estate and real estate debt funds.

The commitment to BEP II will be housed in TRSL’s infrastructure bucket, which has a target allocation of 1 percent and a current allocation of 2 percent. For the fiscal year ended June 30, 2014, TRSL’s alternative assets and real estate portfolio returned 20.86 percent, led by a strong second quarter 2014, which saw returns reach 7.72 percent.

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