Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $48.95 billion
Allocation to alternatives: 17.8%
Tennessee Consolidated Retirement System approved $482.8 million-worth of private equity commitments to multiple investment vehicles at its June 2020 investment committee meeting, a contact at the pension informed Private Equity International.
The commitments comprise €140 million to Vitruvian Investment Partnership IV, $150 million to Bain Capital Fund XIII, $50 million to Canaan XII, $50 million to IVP XVII, $30 million to Foundation Capital Leadership Fund II, $25 million to Lightspeed Venture Partners Select IV and $20 million to Lightspeed Venture Partners XIII.
The $48.95 billion US public pension has a current allocation of 17.8 percent to alternatives, of which 8.6 percent is allotted to private equity.
As illustrated below, the pension’s most recent private equity commitments have comprised five venture capital and two buyout funds.
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