# The Kevin P. Reilly Sr. Louisiana Education Quality Trust Fund

The Kevin P. Reilly Sr. Louisiana Education Quality Trust Fund is a Sovereign Wealth Fund based in Baton Rouge, United States.

## Overview

- **Organization type:** Sovereign Wealth Fund
- **Headquarters:** Baton Rouge, United States
- **Region:** North America
- **Address:** Baton Rouge, LA, United States
- **Founded:** 1986
- **Assets under management:** Undisclosed
- **Website:** treasury.la.gov
- **LinkedIn:** https://www.linkedin.com/company/louisiana-department-of-the-treasury

## Regulatory record

- **Reports private funds:** No

## About

John C. Fleming, MD was elected Louisiana State Treasurer in 2023. A physician, entrepreneur and military veteran, he also served as Congressman from Louisiana

## Sectors

- U.S. Treasury and Agency Securities
- Corporate Bonds
- Short-Term Funds

## People

- John Fleming — Louisiana State Treasurer and Chief Investment Officer
- Amy Mathews — Chief Investment Officer, Louisiana Department of the Treasury
- John Broussard — Assistant State Treasurer and Investment Manager

## Questions

### Where does the trust's funding come from?

The fund's corpus derives from a constitutionally dedicated share of federal revenues generated by Outer Continental Shelf oil and gas production. These revenues — predominantly royalties — flow into the trust by operation of the Louisiana Constitution of 1974 as amended in 1986. No state general fund appropriations or tax revenues feed the trust.

### Who decides how the trust's assets are invested?

The Louisiana State Treasurer serves as the fund's chief investment officer by law. Day-to-day portfolio management is handled by the Louisiana Department of the Treasury's investment team, led by the department's CIO and the Assistant State Treasurer for investments. The State Bond Commission has an oversight role.

### Can the trust invest in equities, private equity, or real estate?

No. The governing statutes and the constitutional amendment restrict investments to fixed-income securities, primarily obligations of the U.S. government and its agencies, high-grade corporate bonds, and other approved short-term instruments. The fund does not hold public or private equities, real property, or alternative assets.

### Are there any plans to change the fund's structure or mandate?

Any change to the fund's constitutional mandate — such as altering the spending rule or the asset-class restrictions — requires a two-thirds vote of the Louisiana Legislature and approval by statewide ballot. No such proposals have gained sufficient legislative traction in recent sessions.

## Related profiles

- [The Junction](https://altss.com/profile/the-junction)
- [The King's Fund](https://altss.com/profile/the-king-s-fund)

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

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