TCRS approves $200m commitment

The US public pension has backed a North American private debt fund.

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

Tennessee Consolidated Retirement System approved a $200 million commitment to Berkshire Multifamily Debt Fund III, L.P. at its December 2020 investment committee meeting, a contact at the pension informed Private Debt Investor.

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

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