# Teachers' Retirement System of Louisiana

Teachers' Retirement System of Louisiana 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 Blvd, Baton Rouge, LA 70809, United States
- **Founded:** 1936
- **Assets under management:** $27.5B (Altss estimate)
- **Website:** trsl.org
- **LinkedIn:** https://www.linkedin.com/company/teachers'-retirement-system-of-louisiana

## Regulatory record

- **Reports private funds:** No

## About

Teachers' Retirement System of Louisiana (TRSL) is the state's largest public retirement system. It started in 1936. TRSL provides retirement benefits and services to over 160,000 eligible teachers, retirees, and employers in Louisiana as a governmental defined benefit plan funded by member and employer contributions and investment earnings.

## Sectors

- Real Estate
- Private Equity
- Natural Resources
- Hedge Funds
- Private Credit
- Agriculture

## People

- Philip Griffith — Chief Investment Officer
- Katherine M. Whitney — Director
- Dr. Jerry Baudin — Chair of the Board of Trustees

## Questions

### Who runs investment decisions at 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.

### How does TRSL source its private-market deal flow?

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.

### Does TRSL invest directly in operating companies or only through funds?

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.

### Which sectors does TRSL explicitly avoid?

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.

### How is the system governed and who are its stakeholders?

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.

### What is TRSL's known posture on real estate investment?

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.

## Related profiles

- [BAE Systems UK Pension Scheme](https://altss.com/profile/bae-systems-uk-defined-benefit-plan)
- [Los Angeles City Employees' Retirement System](https://altss.com/profile/los-angeles-city-employees-retirement-system)

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

Canonical page: https://altss.com/profile/teachers-retirement-system-of-louisiana

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