Tennessee Consolidated Retirement System, Nashville, approved two new commitments totaling up to $300 million.
The $70.2 billion pension fund’s investment committee approved commitments of up to $150 million each to Arbour Lane Credit Opportunity Fund IV, a credit special situations fund managed by Arbour Lane Capital Management, and Berkshire Multifamily Credit Fund IV, a real estate debt fund managed by Berkshire Group, at its Oct. 3 meeting, said Shelli King, spokesperson for state Treasurer David Lillard Jr., who oversees the pension fund.
TCRS previously committed $250 million each to Arbour Lane High Income Loan Fund-of-One, a customized strategic lending separate account, and to Berkshire Bridge Loan Investors II-A, a real estate debt fund.
As of June 30, the pension fund’s actual allocations to strategic lending and real estate were 11.3% and 10.2%, respectively. Both asset classes have a target of 10%.
