TCRS approves  $389.9 million in commitments

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $75.70bn
Allocation to alternatives: 15.10%
Bitesize: $100-200m

Tennessee Consolidated Retirement System has confirmed $389.9 million commitment-worth of private equity commitments to multiple investment vehicles, as mentioned during the institution’s March 2020 Retirement Board meeting.

The commitments comprise of €220 million ($239.9 million) to BC European Capital Fund XI and $150 million to General Catalyst Group X, allocated to three different strategies:$40 million to General Catalyst Group X – Early venture; $65 million to General Catalyst Group X – Growth venture; and $45 million to General Catalyst Group X – Endurance.

The $75.70 billion US public pension has a current allocation of 15.10 percent to alternatives, of which 6.30 percent is allotted to private equity.

As illustrated below, TCRS has made eleven commitments to private equity funds with a 2019 or 2020 vintage, which combined constitute $1.33 billion.

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