TCRS approves $85m commitment

The Nashville-based public pension has re-upped with General Catalyst Partners.

Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $66.11 billion
Allocation to alternatives: 26.6%

Tennessee Consolidated Retirement System approved an $85 million commitment to General Catalyst Group XI at its November 2021 investment committee meeting, a contact at the pension informed affiliate publication Private Equity International.

The pension previously committed $150 million to the vehicle’s predecessor, General Catalyst Group X, which held a final close at $2.9 billion in March 2021, achieving its target.

As illustrated below, TCRS allocates 10.3 percent of its full investment portfolio to private equity. The pension’s recent private equity commitments have been to global vehicles employing a variety of strategies.

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