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Investors - DECEMBER 4, 2017

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TRSL commits $100m to real estate funds

by Jody Barhanovich

The $18.7 billion Teachers’ Retirement System of Louisiana has committed $100 million to two real estate funds, according to Lisa Honoré, executive liaison officer for the pension fund.

The fund committed $50 million each to Sterling Value Add Partners III, managed by Sterling Organization, and Harbert European Real Estate Fund V, managed by Harbart Management Corp.

Sterling Value Add Partners III follows a value-added investment strategy in the retail sector, focusing especially on stabilized/core grocery-anchored shopping centers in major markets across the United States. The real estate fund has raised $198 million so far and is seeking to raise $500 million, according to IREI’s FundTracker database.

The fund’s predecessor, Sterling Value Add Partners II, held a $311 million final close in 2014. With leverage, the fund had more than $1 billion of buying power at the

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