TCRS approves $100m commitment to Carlyle Realty Partners IX

The US public pension has re-upped with the Carlyle Group.

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $60.63 billion
Allocation to alternatives: 17.1%

Tennessee Consolidated Retirement System approved a $100 million commitment to Carlyle Realty Partners IX at its April 2021 investment committee meeting, a contact at the pension informed PERE.

The Carlyle Group‘s ninth fund in this series is in market targeting $6 billion in capital commitments. TCRS also committed to the manager’s previous vehicle, Carlyle Realty Partners VIII, which closed at $5.5 billion in 2018.

As illustrated below, TCRS’s private real estate commitments have been primarily to North American vehicles employing a variety of strategies. The pension has a 10 percent target allocation to real estate that currently stands at 8.6 percent.

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