Key Takeaways
- Geography: United States.
Analysis
The $27 billion Teachers’ Retirement System of Louisiana (TRSL) has appointed StepStone as its real estate and real assets investment consultant, replacing Hamilton Lane in that advisory role.
Hamilton Lane will continue to serve TRSL as its consultant for private equity (PE) and private debt (PD) strategies, confirmed Michelle Millhollon, the plan’s public information director.
TRSL issued a request for proposals and named StepStone, Hamilton Lane, and Townsend Group as the three finalists.
As of December 31, 2024, the pension plan’s allocation within its real assets and real estate portfolio stood at 2% farmland, 15% real estate, 1% commodities, and 2% infrastructure. Investments have included both open- and closed-ended core and non-core real estate vehicles, while real assets commitments were directed through infrastructure funds across diverse sectors.
StepStone also serves as the real estate consultant for several major public pension plans, including the Teachers’ Retirement System of the City of New York, the Washington State Investment Board, and the West Virginia Consolidated Public Retirement Board.