# Louisiana State Employees' Retirement System

Louisiana State Employees' 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:** 8401 United Plaza Boulevard 1st Floor, Baton Rouge, LA 70809, United States
- **Founded:** 1946
- **Assets under management:** 15518 (Altss estimate)
- **Website:** lasersonline.org
- **LinkedIn:** https://www.linkedin.com/company/louisiana-state-employees'-retirement-system

## Regulatory record

- **Reports private funds:** No

## About

The Louisiana State Employees' Retirement System was created in 1946 by state statute to administer retirement benefits for Louisiana public employees. Executive Director Bernard "Trey" Boudreaux III leads day-to-day operations while the Board of Trustees sets policy. Assets derive entirely from state employee contributions and employer funding rather than any single family or corporate fortune. LASERS targets a 25 percent private equity allocation and currently holds 21.5 percent in the asset class. Confirmed commitments include HarbourVest Partners Customized Private Equity Co-Investment Portfolio, EQT Private Capital Asia BPEA Private Equity Fund IX, KKR North America Fund XIV and GTCR Fund XIII. Public equity positions feature Nvidia, Microsoft and Apple. Real estate exposure reaches 3.1 percent of assets through direct holdings and funds, while energy and materials each represent 2.7 percent. Investments span North America, Asia-Pacific and global markets. The system employs 115 professionals at its Baton Rouge headquarters. It co-owns the Louisiana Retirement Systems Building with the Teachers' Retirement System of Louisiana through a joint venture. December 2024: Approved $225 million in private equity commitments during the Board of Trustees monthly meeting. Service providers include BNY Mellon as custodian since 2005 and NEPC as investment consultant. LASERS functions as a legislatively created public trust with an independent board that must approve all commitments. This structure requires annual actuarial valuations and public reporting that distinguishes it from private family offices or endowments. Succession and governance follow state statute rather than family or founder directives.

## Sectors

- Private Equity
- Infrastructure
- Real Estate

## People

- Bernard "Trey" Boudreaux III — Executive Director
- Robert "Bobby" Beale — Chief Investment Officer

## Questions

### Who runs investment decisions at Louisiana State Employees' Retirement System?

Chief Investment Officer Robert Beale oversees the investment program. The Board of Trustees approves allocations and major commitments. Executive Director Bernard Boudreaux III manages overall operations.

### Does Louisiana State Employees' Retirement System participate in fund commitments or only direct deals?

The system commits to private equity funds and co-investment vehicles. Holdings include HarbourVest co-investment portfolios and funds from KKR, GTCR and EQT. Direct secondaries and co-investments appear alongside primary fund commitments.

### What investment stages does Louisiana State Employees' Retirement System typically target?

Private equity exposure covers buyout, growth and venture strategies through fund commitments. Public equity holdings focus on large-cap technology names. Real estate and infrastructure allocations target income-producing assets.

### How is Louisiana State Employees' Retirement System related to other Louisiana retirement systems?

LASERS co-owns its headquarters building with the Teachers' Retirement System of Louisiana through a joint venture entity. The two systems share building management responsibilities but maintain separate investment programs and boards.

### How does Louisiana State Employees' Retirement System source proprietary deal flow?

Commitments flow through established relationships with managers such as HarbourVest, KKR and GTCR. The system also participates in industry associations including NASRA and LAPERS for network access.

## Related profiles

- [Montana Board of Investments](https://altss.com/profile/montana-board-of-investments)
- [Modera Wealth Management](https://altss.com/profile/modera-wealth-management-llc)

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

Canonical page: https://altss.com/profile/louisiana-state-employees-retirement-system

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