Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $53.56 billion
Allocation to alternatives: 16.4%
Tennessee Consolidated Retirement System committed $260 million across three private real estate vehicles at its September 2020 investment committee meeting, a contact at the pension informed PERE.
The commitments comprise $150 million to Blackstone BioMed Life Science Real Estate; $100 million to Cortland Enhanced Value Fund V; and $10 million to AEW Senior Housing Investors IV.
As illustrated below, the pension allocates 9 percent of its full investment portfolio to private real estate. Its recent private real estate commitments have been mainly to funds focused on investments in North America.
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