Teachers’ Retirement System of Louisiana (TRSL) has approved a $50m (€44.6m) commitment into a US student housing fund managed by Campus Apartments, a fund seeking to raise $300m.

TRSL said in its meeting document that its investment into the Campus Real Estate Partners II fund was part of the $20bn pension fund’s value-add real estate investment strategy.

Partners II will target assets close to universities, hospitals and other demand drivers that appeal to students.

The planned property values for the fund will range in size from $15m to $100m and are projected to be held for five to 10 years.

TRSL said it also approved a $50m commitment into Global Infrastructure Partners IV.

Global Infrastructure Partners seeks to raise $20bn for its latest fund. 

The fund, which targets net returns of at least 13%, will invest in core and core-plus assets mostly in OECD countries.