TCRS approves $400m in commitments

The US public pension has backed two private debt vehicles.

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

Tennessee Consolidated Retirement System committed $400 million across two private debt vehicles at its June 2021 investment committee meeting, a contact at the pension informed Private Debt Investor. 

The commitments include $150 million to GoldenTree Distressed Fund IV. The pension also formed Pathway/TCRS Strategic Lending Co-Investment, which is a co-investment with Pathway Capital Management with an initial commitment of $250 million and a maximum of $500 million.

As illustrated below, the pension’s recent private debt commitments have been primarily to global vehicles focused on the corporate sector.

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