TCRS approves $105m in commitments

The US public pension has back two private equity funds managed by GoldenTree Asset Management.

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

Tennessee Consolidated Retirement System approved $105 million-worth of private equity commitments across two investment vehicles at its September 2020 investment committee meeting, a contact at the pension informed Private Equity International.

The commitments comprise $75 million to GT Distressed Co-Investment Fund III and $30 million to GoldenTree Loan Management II. Both private equity funds are managed by GoldenTree Asset Management.

As illustrated below, the pension allocates 7.4 percent of its full investment portfolio to private equity. Its recent private equity commitments have been mainly to venture capital and buyout funds focused on investments in North America and Europe.

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