TCRS approves $100m commitment

The US public pension has backed a North American real estate vehicle.

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $60.63 billion
Allocation to alternatives: 16.6%

Tennessee Consolidated Retirement System approved a $100 million commitment to JP Morgan Sunbelt Residential Development Fund at its March 2021 investment committee meeting, a contact at the pension informed PERE.

The $60.63 billion US public pension has a 10 percent target allocation to real estate that currently stands at 8.6 percent.

As illustrated below, the pension’s private real estate commitments have been primarily to North American vehicles employing a variety of strategies.

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