Louisiana Teachers' Sets $3.8B FY27 Pacing Plan; Border to Coast Adds £2.4B

Louisiana Teachers' Sets $3.8B FY27 Pacing Plan

Border to Coast Adds £2.4B

The Teachers' Retirement System of Louisiana set a fiscal 2027 private markets pacing plan targeting up to $3.8B in commitments across private equity, private credit, and real assets, matching its FY26 target and continuing to route $400M toward a co-investment manager. As part of the plan, the pension also re-upped with Quantum Capital Group, allocating up to $75M to Quantum Energy Partners IX following its earlier commitment to the fund's predecessor vehicle.

In other LP news, Border to Coast said its partner funds committed a further £2.4B to Series 3B of its private markets program, bringing total program commitments to £20.5B as the pool grew to 18 partner funds representing roughly £161B in assets. Elsewhere, the San Antonio Fire and Police Pension Fund advanced a $25M top-up to its Comvest Credit Partners evergreen fund commitment, alongside a $170M reallocation within its public markets portfolio.

At the same time, a larger shift is unfolding. Insurers plan to increase private credit allocations at a higher rate than public investment-grade fixed income over the next 12 to 24 months – the first time the asset class has outpaced core public debt in demand – according to a Marsh survey covering more than $4T in insurer assets. Fifty-seven percent of respondents said they expect to raise private credit exposure, with demand strongest among life insurers and balance sheets above $25B.

On the GP fundraising side, Partners Group held the final close of its fourth direct infrastructure program above $15B, topping its predecessor's $8.5B close in 2022; and ECP is reportedly raising the hard cap on its sixth flagship infrastructure fund to $7.8B after passing $7B in commitments, roughly 40% above its original $5B target. And EQT lifted its target for its current capital-raising cycle to more than €140B, up from an original €100B goal, as fee-generating AUM climbed to €177B.