Tennessee Consolidated Retirement System, Nashville, will commit $25 million to venture capital fund Venrock Associates VI, according to Lamar Villere, director of private equity for the $29.8 billion system.
The commitment will be invested over several years, Mr. Villere said in a telephone interview.
The Tennessee General Assembly in 2008 allowed the Nashville-based system to invest up to 5% in private equity. The current target allocation is 3%.
