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TCRS approves $260m in commitments

The US public pension has backed three private real estate funds.

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

Tennessee Consolidated Retirement System committed $260 million across three private real estate vehicles at its September 2020 investment committee meeting, a contact at the pension informed PERE.

The commitments comprise $150 million to Blackstone BioMed Life Science Real Estate; $100 million to Cortland Enhanced Value Fund V; and $10 million to AEW Senior Housing Investors IV.

As illustrated below, the pension allocates 9 percent of its full investment portfolio to private real estate. Its recent private real estate commitments have been mainly to funds focused on investments in North America.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.