By Muskan Arora
The $27B Teachers’ Retirement System of Louisiana has hired StepStone as its real estate and real assets investment consultant, replacing Hamilton Lane.
Hamilton Lane will continue to work with the pension plan on its private equity and private debt portfolios, said Michelle Millhollon, the plan’s public information director, in an email to Markets Group.
In addition to StepStone and Hamilton Lane, Townsend Group also responded to the pension plan’s request for proposals, with all three companies making the list of finalists.
Within its real estate and real assets portfolio, the pension plan has allocated 2% to farmland, 15% to real estate, 1% to commodities and 2% to infrastructure, as of Dec. 31, 2024. The pension plan’s recent investments to real estate have been focused on both open- and closed-ended core and non-core strategies, whereas the real assets commitments were made through infrastructure funds across different sectors.
StepStone is also the real estate consultant for multiple public pension plans, including the Teachers’ Retirement System of the City of New York, the Washington State Investment Board and the West Virginia Consolidated Public Retirement Board.
