TCRS approves $105m in commitments

The US public pension has backed two private debt funds managed by GoldenTree Asset Management.

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

Tennessee Consolidated Retirement System approved $105 million-worth of private debt commitments across two investment vehicles at its September 2020 investment committee meeting, a contact at the pension informed Private Debt Investor.

The commitments comprise $75 million to GT Distressed Co-Investment Fund III and $30 million to GoldenTree Loan Management II. Both private debt funds are managed by GoldenTree Asset Management.

As illustrated below, the pension allocates 16.4 percent of its full investment portfolio to alternative assets. Its recent private debt commitments have been primarily to North American vehicles focused on the corporate sector.

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