Teachers' Retirement System of Louisiana Board of Trustees public meetings in 2024
11 substantive meetings from 2024, with official agendas or minutes and plain-English summaries.
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana (TRSL) will hold a series of committee meetings and a full board meeting on December 5, 2024, followed by a board retreat on December 6. The Elections Committee will receive run-off election results for District 5. The Investment Committee will review monthly performance, approve 2025 schedules, and consider potential private market investments including Northleaf Infrastructure Capital Partners IV and Blackstone Life Sciences VI. The Executive Committee will approve the Comprehensive and Popular Annual Financial Reports for fiscal years 2023 and 2024, receive a cybersecurity update, and hear a presentation on asset liability projection. The Legislative Committee will get updates on the Third Extraordinary Session and the Social Security Fairness Act of 2023. The full Board of Trustees will consider committee reports, elect a new chair and vice chair, and present a resolution honoring Holly Gildig.
- Elections Committee receives run-off election results for District 5
- Investment Committee reviews potential private market investments: Northleaf Infrastructure Capital Partners IV and Blackstone Life Sciences VI
- Executive Committee approves TRSL Comprehensive and Popular Annual Financial Reports for FY 2023 and 2024
- Board of Trustees elects new chair and vice chair
- Presentation of resolution honoring Holly Gildig
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana Board of Trustees and its committees will meet on November 7, 2024, to consider several financial and operational items. The Executive Committee will vote on the annual audit for FY2024. The Investment Committee will review manager portfolios, potential private market investments, and interview finalists for an Optional Retirement Plan consultant. The Budget and Finance Committee will discuss and approve proposed administrative and building partnership budgets for 2025-2026. The Legislative Committee will discuss potential legislation affecting TRSL.
- Presentation and approval of the annual audit by Hawthorn, Waymouth & Carroll L.L.P. for FY ended June 30, 2024
- Review of potential private market investments: Mesirow Financial Real Estate Value Fund V, Sculptor Real Estate Fund V, Smart Market Fund
- Interview finalists and recommend a candidate firm for Optional Retirement Plan consultant
- Review, discuss, and approve proposed 2025-2026 administrative operating budget and Louisiana Retirement Systems Building Partnership budget
- Discussion of potential extraordinary legislative session and legislation affecting TRSL
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana will hold a series of committee and board meetings to review investment performance and personnel evaluations. The Executive Committee will consider the approval of actuarial valuations for the fiscal year ended June 30, 2024. The Investment Committee will review potential private market investments and public market manager portfolios.
- Approval of Actuarial Valuation for Fiscal Year Ended June 30, 2024 by Foster & Foster Actuaries and Consultants
- Approval of Actuarial Valuation of the Louisiana State University Agriculture and Extension Service
- Review of potential private market investments including Ares Special Opportunities Fund III, L.P., Lindsay Goldberg VI, L.P., and Everberg Capital Partners III, L.P.
- Staff finalist recommendation for Optional Retirement Plan (ORP) Consultant Search
- Primary Election Results for District 5 and District 6
Teachers' Retirement System of Louisiana Board of Trustees
The Board of Trustees and its committees will meet to discuss investment performance, private market updates, and administrative matters. The Executive Committee will review workload data and a litigation report regarding Kevin Cope & Roger Lane v. LSU and TRSL. The Investment Committee will review portfolio performance from various managers and private market funds.
- Litigation discussion: Kevin Cope & Roger Lane v. Board of Supervisors of Louisiana State University and A & M College and Teachers’ Retirement System of Louisiana
- Review of 2024-2025 Affirmative Action Plan update
- Investment portfolio reviews for PGIM Quantitative Solutions, LLC and William Blair Investment Management, LLC
- Private market investment reviews including Summit Partners Growth Equity XII, L.P. and ICG Europe Fund IX SCSp
- Review of THL Equity Fund X, L.P.
Teachers' Retirement System of Louisiana Board of Trustees
The TRSL Investment Committee will review monthly performance, international small cap firm finalists, and the ORP consultant solicitation. The Executive Committee will present quarterly compliance audit reports and a recap of fiscal year 2023-2024 audits.
- Interviewing finalists for International Small Cap: Driehaus Capital Management LLC, LSV Asset Management, and Wellington Management Company LLP
- Presentation and approval of solicitation for ORP Consultant
- Annual evaluation of investment consulting firms Mercer and Aon Investments
- Review of quarterly compliance audit reports by TRSL Audit Staff
- Annual recap of internal and compliance audits for fiscal year 2023-2024
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana Board of Trustees and its committees will meet on June 6, 2024, to discuss and potentially approve several items. The Investment Committee will review private market investments, including US Industrial Club VII, LP, Blackstone Credit Opportunities Fund V, L.P., and Crescent Credit Solutions IX, L.P., and consider a private market consent process. The Legislative Committee will discuss the 2024 Regular Legislative Session and legislation affecting TRSL. The Executive Committee will consider approving the Louisiana Compliance Questionnaire, Board Governance Manual policies, the TRSL Annual Audit Plan for FY 2024-2025, and discuss employer delinquency management, including Lincoln Preparatory School delinquent contributions.
- Review of potential private market investments: US Industrial Club VII, LP, Blackstone Credit Opportunities Fund V, L.P., Crescent Credit Solutions IX, L.P.
- Presentation and approval of private market consent process
- Presentation and approval of the TRSL Annual Audit Plan for Fiscal Year 2024-2025
- Discussion of Lincoln Preparatory School delinquent contributions
- General discussion of 2024 Regular Legislative Session and legislation affecting TRSL
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana Board of Trustees and its committees will meet on May 2, 2024. The Legislative Committee will discuss the 2024 Regular Legislative Session and bills affecting TRSL. The Executive Committee will review actuarial potpourri, litigation reports, and compliance audits. The Investment Committee will consider potential private market investments including FP Credit Partners III, Asterion Industrial Infra Fund III, and Quantum Energy Partners VIII, and approve updates to the investment management search timeline for International Small Cap. The full Board will receive committee reports and a director's update.
- Discussion of 2024 Regular Legislative Session and legislation affecting TRSL
- Review of potential private market investments: FP Credit Partners III, LP; Asterion Industrial Infra Fund III; Quantum Energy Partners VIII
- Presentation and approval of updates to Investment Management Search Timeline for International Small Cap
- Quarterly litigation reports and compliance audit reports
- Reminder of Tier 2.1 Disclosure Form due May 15, 2024
Teachers' Retirement System of Louisiana Board of Trustees
The Investment Committee will review potential private market investments including OHA Senior Private Lending Fund, TA Realty Core Property Fund, and others, and will consider a solicitation for proposals for an international small cap manager. The Legislative Committee will discuss the 2024 regular legislative session and legislation affecting TRSL. The full Board of Trustees will receive committee reports and approve minutes.
- Review of potential private market investments: OHA Senior Private Lending Fund, TA Realty Core Property Fund, BDC V, NGP Natural Resources XIII, Kayne Anderson Real Estate Partners VII
- Presentation and approval of solicitation for proposals for International Small Cap Manager
- Update and discussion of 2024 Regular Legislative Session and legislation affecting TRSL
- Monthly Investment Performance Review and Investment Manager Portfolio Review (T. Rowe Price, Baillie Gifford, Counterpoint Global)
- Approval of minutes from March 7, 2024 meeting
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana (TRSL) will hold three consecutive meetings on March 7, 2024: a Legislative Committee, an Investment Committee, and a Board of Trustees meeting. The Legislative Committee will discuss the Optional Retirement Plan and receive an update on the 2024 legislative session, including legislation affecting or monitored by TRSL. The Investment Committee will review private market investments, consider potential investments in Comvest Credit Partners VII and Castlelake Asset-Based Private Credit III, and vote on a due-diligence recommendation for international small cap. The Board of Trustees will approve prior meeting minutes and receive reports from the Legislative and Investment Committees.
- Legislative Committee education topic: Optional Retirement Plan
- Update and discussion of 2024 legislative session, including legislation affecting TRSL
- Investment Committee review of potential private market investments: Comvest Credit Partners VII, L.P. and Castlelake Asset-Based Private Credit III, L.P.
- Present and approve due-diligence recommendation by consultant and staff for International Small Cap
- Board of Trustees approval of minutes from February 1, 2024 meeting
Teachers' Retirement System of Louisiana Board of Trustees
The TRSL Investment Committee will consider a due-diligence recommendation for Core Plus Fixed Income and update its Investment Policy Statement. The Legislative Committee will discuss the 2024 Regular Legislative Session, including pre-filed legislation. The full Board of Trustees will review committee reports and the 2023 Board Self-Evaluation.
- Approval of due-diligence recommendation for Core Plus Fixed Income
- Update to the Investment Policy Statement
- Review of monthly investment performance and manager portfolios
- Discussion of 2024 Regular Legislative Session pre-filed legislation
- Review of TRSL 2023 Board of Trustees Self-Evaluation
The Board of Trustees approved the Investment Committee's recommendations, including updates to the Investment Policy Statement. The Investment Committee also voted to retain Loomis, Sayles & Co. for Core Plus Fixed Income, pending fee negotiations.
- Approved updates to the Investment Policy Statement
- Approved due-diligence recommendation to retain Loomis, Sayles & Co. for Core Plus Fixed Income (subject to fee negotiations)
- Approved minutes from the January 4, 2024 meeting
- Accepted Investment Committee report in globo
- Accepted Legislative Committee report in globo
- Received monthly investment performance review through December 31, 2023
- Received Investment Manager Portfolio Review reports
Teachers' Retirement System of Louisiana Board of Trustees
The Teachers' Retirement System of Louisiana Board of Trustees and its committees will meet on January 4-5, 2024, to discuss and vote on several items. The Elections Committee will review and approve the 2024 election schedule and information. The Investment Committee will consider updates to investment search timelines, review potential private market investments (Sterling Group Partners VI, L.P. and Stonepeak Infrastructure Fund V, L.P.), and receive quarterly performance reports. The Legislative Committee will discuss the 2024 regular legislative session and approve the legislative team. The Executive Committee will review compliance audit reports, litigation updates, and return-to-work data. The full board will receive committee reports, introduce new staff, and review its self-evaluation.
- Review and approval of proposed 2024 schedule of elections
- Approval of updates to investment management search timelines for International Small Cap Equity and Core Plus Fixed Income
- Review of potential private market investments: Sterling Group Partners VI, L.P. and Stonepeak Infrastructure Fund V, L.P.
- Approval of the legislative team for the 2024 legislative session(s)
- Presentation and approval of quarterly compliance audit reports
The Board of Trustees accepted reports from the Elections, Investment, Legislative, and Executive committees. The Investment Committee approved potential investments in Sterling Group Partners VI, L.P. and Stonepeak Infrastructure Fund V, L.P. The Legislative Committee authorized a team to represent TRSL during the 2024 Regular Session.
- Approved potential investment in Sterling Group Partners VI, L.P. up to $100 million
- Approved potential investment in Stonepeak Infrastructure Fund V, L.P. up to $50 million
- Approved 2024 schedule of elections and election information
- Authorized legislative team to represent TRSL during 2024 Regular Session
- Approved quarterly compliance audit reports
- Approved proposed TRSL Values statements
- Approved updates to investment management search timelines for International Small Cap Equity and Core Plus Fixed Income
- Deferred review of 2023 Board of Trustees self-evaluation to February 2024