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Louisiana District Attorneys Retirement Association
The Louisiana District Attorneys Retirement Association (LDARA) was established as a public defined-benefit pension plan for district attorneys in...
Louisiana District Attorneys Retirement Association
The Louisiana District Attorneys Retirement Association (LDARA) was established as a public defined-benefit pension plan for district attorneys in Louisiana. The system is overseen by a Board of Trustees chaired by S. Andrew Shealy, with Philip Qualls serving as Executive Director. The fund shares administrative ties with the Louisiana District Attorneys Association, providing retirement benefits to its employees. LDARA pursues a multi-asset investment strategy that includes venture capital, real estate, and commercial property holdings. Its portfolio includes positions managed through partnerships such as Rastegar Property Group, which handles commercial and mixed-use real estate investments like Rastegar Multi-Yield LLC and Encore GP Fund L.P. Directed by Ari Rastegar, these investments focus on Louisiana-based and national opportunities. The fund also participates in the Louisiana Asset Management Pool for short-term cash needs. The pension fund's total AUM is not publicly disclosed, and team size beyond the executive director and board is unknown. The system maintains a close operational link with the Louisiana District Attorneys Association, sharing office space and administrative resources. It is subject to actuarial oversight by the Public Retirement Systems Actuarial Committee, a Louisiana state body that reviews valuations of public retirement systems in the state. What distinguishes LDARA structurally is its blend of public-pension governance with a niche workforce — district attorneys — and its direct venture capital and real estate partnership model. Rather than relying solely on traditional public-market allocations, the fund engages in private investment vehicles through a small number of external partners, resembling a family office in its hands-on approach to asset management.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Baton Rouge
Corporate office
Baton Rouge, LA, United States
Principals
Philip Qualls, CFA
Executive Director
S. Andrew Shealy
Chairman of the Board of Trustees
Ari Rastegar
Founder of Rastegar Property Group, investment partner
Sector focus
Frequently asked questions
Who runs investment decisions at the Louisiana District Attorneys Retirement Association?
Investment decisions are overseen by the Board of Trustees, chaired by S. Andrew Shealy. Philip Qualls, CFA, serves as Executive Director and handles day-to-day operations. The board sets allocation policy and approves external partnerships.
What types of investments does the pension fund make?
LDARA invests across venture capital, commercial real estate, and mixed-use properties. It allocates through vehicles like Rastegar Property Group funds, including Encore GP Fund and Rastegar Income Fund II. It also uses the Louisiana Asset Management Pool for liquid cash management.
How is the fund related to the Louisiana District Attorneys Association?
The pension fund provides retirement benefits to employees of the Louisiana District Attorneys Association (LDAA) and shares office space and administrative resources. The two entities are distinct but operationally linked.
Is the fund's AUM publicly disclosed?
No. The total assets under management are not publicly reported by the system. The fund operates under state pension regulations that do not mandate public disclosure of its portfolio size.
What is the role of the Public Retirement Systems Actuarial Committee?
The Public Retirement Systems Actuarial Committee (PRSAC) is a Louisiana state body that reviews actuarial valuations of public retirement systems in the state. LDARA's funding and liability status fall under its oversight.
Does the fund invest solely in Louisiana-based assets?
No. While it has a Louisiana focus, LDARA invests in national real estate and venture capital through partners like Rastegar Property Group, which holds assets across the United States.
Who is Ari Rastegar and what is his firm's relationship with the pension?
Ari Rastegar is the founder of Rastegar Property Group, a real estate investment firm. LDARA is a limited partner in several Rastegar vehicles, including the Encore GP Fund and Rastegar Multi-Yield LLC, primarily focused on commercial and mixed-use properties.
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