# Louisiana District Attorneys' Retirement System

Louisiana District Attorneys' Retirement System is a Pension Fund based in Baton Rouge, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Baton Rouge, United States
- **Region:** North America
- **Address:** Baton Rouge, LA, United States
- **Founded:** 1956
- **Assets under management:** $100M - $500M (Altss estimate)
- **Website:** ldars.org
- **LinkedIn:** https://www.linkedin.com/company/ladaa

## Regulatory record

- **Reports private funds:** No

## About

The Louisiana District Attorneys' Retirement System was created by the state legislature in 1956 to serve elected district attorneys and their assistants across all 42 judicial districts. It operates as a governmental defined-benefit plan, funded by employer contributions and investment returns. The system shares administrative functions with the Louisiana District Attorneys Association, and its board includes active and retired DAs. Philip Qualls, CFA, serves as Executive Director, overseeing daily operations from Baton Rouge. Investment strategy concentrates on private real estate equity through structured partnerships. The system has committed capital to multiple vehicles sponsored by Rastegar Property Group, including Rastegar Holding Company, Rastegar Multi-Yield, Encore GP Fund, and Rastegar Income Fund II. These are direct real estate plays spanning commercial and mixed-use assets — a posture that substitutes GP relationships for the diversified REIT or real-asset fund exposure typical of a plan this size. Liquid reserves are managed in part through the Louisiana Asset Management Pool, a state-sponsored cash-management vehicle. Board governance links to the broader Louisiana public-retirement infrastructure through the Public Retirement Systems' Actuarial Committee, which reviews valuation assumptions across all state plans. The system's tight eligibility pool — limited to prosecutorial staff — keeps its liability profile distinct from larger, multi-employer state funds. Current participant headcount and funded-ratio data are not published by the system. The system's distinguishing feature is its concentration with a single real estate sponsor. For a plan of this scale, the Rastegar relationship represents an outsized allocation to one GP's suite of vehicles — a structure more common among single-family offices than public pension funds. This partnership model concentrates underwriting and monitoring with a single external manager, trading diversification for depth of relationship and investment-by-investment control.

## Sectors

- Real Estate
- Private Credit

## People

- S. Andrew Shealy — Chairman of the Board of Trustees
- Philip Qualls, CFA — Executive Director

## Questions

### Who runs investment decisions at the Louisiana District Attorneys' Retirement System?

Investment policy and oversight rest with the Board of Trustees, chaired by S. Andrew Shealy. Philip Qualls, CFA, serves as Executive Director and handles day-to-day management. The board operates within the framework set by Louisiana state law governing public retirement systems. Specific delegation of investment discretion to staff versus board is not disclosed in public materials.

### How is the system related to the Louisiana District Attorneys Association?

The retirement system and the Louisiana District Attorneys Association share administrative and office-space links in Baton Rouge. The LDAA is the professional association representing the state's district attorneys, while the retirement system is a separate legal entity providing pension benefits to those same DAs and their staff. The association does not control investment decisions of the retirement system.

### Who is Rastegar Property Group and what is their relationship to the retirement system?

Rastegar Property Group, founded by Ari Rastegar, is a real estate investment firm based in Austin, Texas, with a focus on commercial and mixed-use properties. The Louisiana District Attorneys' Retirement System has committed capital to at least four Rastegar-sponsored vehicles, including Rastegar Multi-Yield and Rastegar Income Fund II. The relationship represents a direct partnership model rather than a fund-of-funds allocation.

## Related profiles

- [Los Angeles County Metropolitan Transportation Authority Non-Contract Employee Plan (NC)](https://altss.com/profile/los-angeles-county-metropolitan-transportation-authority-non-contract-employee-plan-nc)
- [Louisiana State Employees' Retirement System (LASERS)](https://altss.com/profile/louisiana-state-employees-retirement-system-optional-retirement-plan-orp)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/louisiana-district-attorney-s-retirement-association

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology