Teachers’ Retirement System of Louisiana (TRSL) has approved a $125m (€106.5m) commitment to TA Realty’s latest US real estate fund.
The commitment to TA Realty Value Fund XIV lifts the pension fund’s total value-add investment for the 2026 fiscal year ending 30 June to $475m across four vehicles, moving it closer to its annual target of committing between $600m and $800m to five to seven funds.
According to a StepStone board meeting document for TRSL, TA Realty is seeking to raise $2bn for the fund, which is expected to reach a final close in September 2026.
TA Realty plans to commit $100m in co-investment to the fund, which will maintain a gearing limit of 50%.
Fund XIV will primarily focus on acquiring multifamily and industrial assets, though it has also allocated up to 10% of its capital for data centre investments.
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