Georgia On My Mind...
And then there was one... Earlier this month, the Tennessee Consolidated Retirement System made its first-ever dip into private equity waters, committing a total of $150 million to funds managed by Hellman & Friedman, Khosla Ventures and TA Associates. The moves came approximately one year after the Tennessee legislature voted to approve alternative asset commitments, making Tennessee the 49th state with such flexibility. The lone holdout is Georgia, which doesn't make alternative investments out of either its public employees' pension system (ERSGA) or its State Treasury. I know that it's a "red" state, but this seems to be taking conservatism a bit too seriously.
24 August 2009•2 mins read
