TCRS approves $392.5m in commitments

The US public pension has re-upped with two existing managers.

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, US
AUM: $60.63 billion
Allocation to alternatives: 17.1%

Tennessee Consolidated Retirement System committed $392.5 million across two private debt vehicles at its April 2021 investment committee meeting, a contact at the pension informed Private Debt Investor. 

The commitments comprised €200 million to ICG Europe Fund VIII and $150 million to Arbour Lane Credit Opportunity Fund III. Both commitments were made to the pension’s existing managers.

As illustrated below, the pension’s recent private debt commitments have been primarily to North American vehicles focused on the corporate sector. TCRS allocates 17.1 percent of its full investment portfolio to alternative investments.

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