TRSL to invest in two value-added funds

Teachers' Retirement System of Louisiana (TRSL) has plans to invest in two funds, according to its July meeting materials.

The funds are Bain Capital Real Estate Fund III, a $3.75 billion value-added fund managed by Bain Capital Real Estate, and H.I.G. Europe Realty Partners III, a $1.09 billion value-added fund managed by H.I.G. Realty Partners.

Bain Capital Real Estate Fund III will focus on niche real estate segments like industrial, global logistics, life science and lab space, senior housing, affordable apartments, urban retail and self-storage.

H.I.G. Europe Realty Partners III’s predecessor closed with aggregate capital commitments of €673 million ($760 million) in 2019, well above its target. The fund principally made value-add investments in the small and mid-cap real estate sector in Europe.

The total amount to the funds has been reported to be $75 million