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Louisiana State Police Retirement System
The Louisiana Legislature created LSPRS in 1938 to deliver retirement security to sworn officers of the Division of State Police. An appointed Board of...
Louisiana State Police Retirement System
The Louisiana Legislature created LSPRS in 1938 to deliver retirement security to sworn officers of the Division of State Police. An appointed Board of Trustees governs the system; the Superintendent of State Police chairs it by statute, and the State Treasurer sits as an ex-officio member. The Executive Director, Margaret Corley Michel, and CIO Douglas Hanly run day-to-day administration and investment operations from Baton Rouge. LSPRS deploys capital across public equity, fixed income, real estate, timberland, and private markets. The public-markets portfolio includes large-cap US growth exposure through T. Rowe Price, international value via Templeton, and small-cap value via Fisher Investments. Real estate commitments center on core open-end funds — JPMCB Strategic Property Fund, Morgan Stanley Prime Property Fund, and Prudential's PRISA — alongside a global value-add sleeve through Brookfield SREP III. Timberland sits with Hancock and The Campbell Group. The private equity program addresses buyouts, growth, venture, distressed debt, mezzanine, secondaries, and special situations via a fund-of-funds and primary fund commitment structure. Geographically, the system owns assets in the United States and participates in global pools through managers like Wellington and Brookfield. The system operates with a lean internal team — its CIO manages a roughly $1.4 billion (Altss estimate) pool through external managers, with no in-house alternatives group. LSPRS owns its own office building at 9224 Jefferson Highway in Baton Rouge, holding the asset on its own book. It participates in industry circles through NASRA and the Louisiana Association of Public Employees' Retirement Systems, and its contracted managers provide indirect linkage to Climate Action 100+ and the Net Zero Asset Managers Initiative. What distinguishes LSPRS is the operational closeness between plan governance and the state police force it serves — the Superintendent chairs the board, embedding the plan directly inside the institution it exists to protect. That arrangement collapses the distance between asset pool and beneficiary in a way larger statewide retirement systems cannot replicate, aligning investment horizon with the career arc of a Louisiana state trooper.
General information
Firm type
Pension Fund
Year founded
1938
Location
Region
North America
Country
United States
City
Baton Rouge
Corporate office
Baton Rouge, LA, United States
Principals
Col. Robert Hodges
Board Chair; Superintendent of the Office of State Police
Kevin Marcel
Vice Chairman of the Board; Active/Retired Representative
Margaret Corley Michel
Executive Director
Douglas Hanly
Chief Investment Officer
John Fleming
Board Member; Louisiana State Treasurer
Taylor Barras
Board Member; Commissioner of the Division of Administration
Sector focus
Frequently asked questions
Who runs investment decisions at the Louisiana State Police Retirement System?
Douglas Hanly serves as the Chief Investment Officer of LSPRS. He oversees investment strategy and manager selection for the system's approximately $1.4 billion pool of assets (Altss estimate). The Board of Trustees, chaired by the Superintendent of State Police, retains ultimate fiduciary authority.
How does LSPRS access private equity and venture capital?
The system invests in private equity through external fund commitments and fund-of-funds arrangements rather than direct co-investments or in-house deal sourcing. Its private equity program spans buyouts, growth equity, venture capital, distressed debt, mezzanine, secondaries, and special situations. LSPRS does not maintain a dedicated internal alternatives team, relying on external managers for sourcing and execution.
What role does real estate play in LSPRS's portfolio?
Real estate is a material allocation for LSPRS. The system commits to core open-end funds — including JPMCB Strategic Property Fund, Morgan Stanley Prime Property Fund, and Prudential's PRISA — and adds value-add exposure through vehicles like Brookfield SREP III. The system also directly owns its own office building in Baton Rouge. These positions span commercial and mixed-use assets primarily across the United States.
How is the Louisiana State Police Retirement System governed?
LSPRS is governed by a Board of Trustees chaired by the Superintendent of the Office of State Police, Col. Robert Hodges. The board includes the Louisiana State Treasurer, the Commissioner of the Division of Administration, and representatives of active and retired members. This structure places plan oversight directly within the law-enforcement institution it serves.
Does LSPRS invest in timberland or natural resources?
Yes. LSPRS holds timberland allocations through separate accounts or fund commitments with Hancock Timber Resource Group and The Campbell Group. These allocations provide the portfolio with exposure to US timberland assets, functioning as both a real-asset inflation hedge and a source of biological growth.
Is LSPRS structured as a defined-benefit or defined-contribution plan?
LSPRS is a qualified defined-benefit pension plan under Section 401(a) of the Internal Revenue Code. It was established by the Louisiana Legislature in 1938 to provide retirement, disability, and survivor benefits exclusively for sworn officers of the Louisiana Division of State Police and their beneficiaries.
Does LSPRS engage with ESG or climate-focused investor initiatives?
LSPRS participates in Climate Action 100+ and the Net Zero Asset Managers Initiative indirectly through its contracted external asset management companies. The system's own board materials do not indicate a standalone internal ESG policy or dedicated governance staff for these initiatives.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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