TCRS approves $200m commitment

The Nashville-based public pension has re-upped with EQT Exeter.

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $66.11 billion
Allocation to alternatives: 26.6%

Tennessee Consolidated Retirement System committed $200 million to EQT Exeter Industrial Core-Plus Fund IV at its November 2021 investment committee meeting, a contact at the pension informed PERE.

The pension previously committed $100 million to the vehicle’s predecessor, Exeter Core Industrial Fund III, which held a final close at $1.3 billion in October 2019, exceeding its $1 billion target.

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 8.9 percent.

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