TCRS approves $100m commitment to Principal Digital Real Estate Fund

The US public pension has backed a North America-focused fund.

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Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $53.56 billion
Allocation to alternatives: 16.4%

Tennessee Consolidated Retirement System approved a $100 million commitment to Principal Digital Real Estate Fund at its October 2020 investment committee meeting, a contact at the pension informed PERE.

The $53.56 billion US public pension has a 10 percent target allocation to real estate that currently stands at 9 percent.

As illustrated below, the pension’s private real estate commitments have been mainly to core and value-added funds focused on investments in North America.

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