Tennessee Consolidated Retirement System, Nashville, is looking to invest about $900 million in private equity for the first time, confirmed CIO Michael Brakebill.
Under a law signed by Gov. Phil Bredesen in June, the $30 billion system can invest in private equity, including domestic and international venture capital, corporate buyouts, mezzanine and distressed debt, special situations, and secondary funds. System officials hope to have an implementation plan to present to the system’s board of trustees by the end of September, Mr. Brakebill said.
A director of private equity will be hired to assist with the new investments; the system will begin a search soon to fill the new position, Mr. Brakebill said.
