Teachers' Retirement System of Louisiana

Philip Griffith serves as the Chief Investment Officer. He leads the investment team executing the fund's allocation across public equities, real estate, private equity, natural resources, and agriculture. The Board of Trustees, chaired by Dr. Jerry Baudin, provides oversight.

TRSL participates as a limited partner in named commingled funds operated by external managers. Confirmed real estate manager relationships include TA Realty, Kayne Anderson, Bain Capital, Cabot, and HIG. In agriculture, it invests through separate accounts with AgIS Capital, Manulife Investment Management, and PGIM. For natural resources, it has committed to NGP Natural Resources XIII.

No. TRSL is a governmental defined benefit pension plan for Louisiana public educators. It has no single-family wealth origin and serves a broad beneficiary base of over 160,000 teachers, retirees, and employers. Its investment behavior, however, overlaps with family offices in its appetite for direct limited-partnership commitments and farm-and-timber separate accounts.

The system's private-market exposure is primarily fund-of-funds and limited-partnership commitments. It also uses separate accounts for real assets, notably in agriculture. Direct co-investment is listed among its strategy tags, but publicly documented positions in specific operating companies are not available in the research record.

TRSL does not publish a formal exclusion list. Its disclosed portfolio shows active participation in real estate, private equity, natural resources, agriculture, hedge funds, and private credit. No explicit industry exclusions were identified in the research record.

A Board of Trustees chaired by Dr. Jerry Baudin governs TRSL. Katherine M. Whitney serves as Director. Key stakeholder groups include the Louisiana Retired Teachers Association and the broader state legislative framework, where TRSL often participates in joint task forces with peer fund LASERS. The fund is a member of NASRA, NCTR, NCPERS, and LAPERS.

Real estate is a significant allocation. TRSL has committed to at least ten named real estate funds and separate accounts spanning industrial, mixed-use, residential, and commercial property. Geographic exposure covers North America and Europe, with vehicles managed by TA Realty, Kayne Anderson, Bain Capital, Cabot, Mesirow Financial, Oaktree, Sculptor, and HIG.