Searches & Hires

Tennessee Consolidated commits $120 million to buyout fund

Tennessee Consolidated Retirement System, Nashville, committed up to $120 million to Vitruvian Investment Partnership III, a buyout fund managed by Vitruvian Partners, recently released investment committee minutes said.

The $44.4 billion pension fund previously committed up to $65 million to Vitruvian Investment Partnership II in 2013.

The pension fund's private equity allocation was 3.8% as of March 31. The target is 3%.

Shelli King, spokeswoman for David H. Lillard Jr., state treasurer and who oversees the pension fund, could not be immediately reached to provide further information.