Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $62.45 billion
Allocation to alternatives: 26.2%
Tennessee Consolidated Retirement System committed $154 million across three private real estate vehicles at its September 2021 investment committee meeting, a contact at the pension informed PERE. The pension has an existing relationship with both fund managers.
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 8.8 percent.
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