Tennessee Consolidated Retirement System, Nashville, will commit up to $50 million to Berkshire Fund VIII and up to $25 million to Khosla Ventures IV, both private equity funds, according to Lamar Villere, director of private equity for the $32.1 billion fund.
The system’s private equity consultant, Cambridge Associates, assisted with both commitments, Mr. Villere said in a telephone interview.
The system’s target private equity allocation is 3%, Mr. Villere said. Its actual allocation is 0.2%. He said the system will invest about $275 million a year in private equity until the target is reached.