The Louisiana State Employees’ Retirement System (LASERS), based in Baton Rouge, has approved $225m in new private equity commitments as part of its ongoing efforts to bolster private market investments, according to a report by Pension & Investment Online.
At its 12 December board meeting, the $15.8bn pension fund allocated $125m to a customised private equity co-investment portfolio managed by HarbourVest Partners. An additional $100m, meanwhile, was committed to BPEA Private Equity Fund IX, an Asia-focused buyout fund managed by EQT Private Capital Asia, according to Laney Sanders, the Assistant Chief Investment Officer.
The moves align with LASERS’ target allocation to private markets, set at 25%. As of 30 September, the fund’s actual allocation stood at 21.5%.
Investment consultant NEPC advised on the commitments.
