TCRS approves $250m commitment

The US public pension has backed a value-added real estate vehicle.

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $55.94 billion
Allocation to alternatives: 16.6%

Tennessee Consolidated Retirement System approved a $250 million commitment to Cortland Growth & Income at its January 2021 investment committee meeting, a contact at the pension informed PERE.

The $55.94 billion US public pension has a 10 percent target allocation to real estate that currently stands at 8.5 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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