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The Teachers’ Retirement System of Louisiana has committed $650 million to three real estate funds: Mesirow Financial Real Estate Value Fund V, Sculptor Real Estate Fund V and Stockbridge Smart Markets Fund. These funds were committed on Nov. 7, according to meeting minutes from the retirement system’s executive committee.  

Mesirow Financial Real Estate Value Fund V, managed by Mesirow Financial, received $125 million. The closed-end, value-added fund has a primary focus on multifamily properties in North America, with a secondary focus on student housing. It has an equity fundraising goal of $1.25 billion. 

Sculptor Real Estate Fund V, managed by Sculptor Capital Management, is a closed-end, opportunistic fund focused on office, hotel, land, multifamily, retail, senior housing and distressed properties in Europe and North America. This fund received $125 million and has raised more than $1.27 billion. The commitment from Louisiana follows recent commitments from Seattle City Employees’ Retirement System, Oregon Public Employees’ Retirement Fund, and Baltimore Fire and Police Employees Retirement System. 

Stockbridge Smart Markets Fund, managed by Stockbridge, received $400 million and is an open-end, core fund focused on diversified properties in North America.