News & Analysis

TCRS approves $250m commitment to Oaktree Real Estate Debt Fund III

The US public pension has backed a private real estate debt vehicle managed by Oaktree Capital Management.

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Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $62.45 billion
Allocation to alternatives: 26.2%

Tennessee Consolidated Retirement System approved a $250 million commitment to Oaktree Real Estate Debt Fund III at its August 2021 investment committee meeting, a contact at the pension informed Private Debt Investor.

As illustrated below, TCRS’s recent private debt commitments have been primarily to global vehicles focused on the corporate sector. The pension currently allocates 7.6 percent of its investment portfolio to private debt.

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