Tennessee Consolidated Retirement System, Nashville, made commitments and investments totaling up to $490 million, said Shelli King, spokeswoman for state Treasurer David H. Lillard Jr., who oversees the pension fund.
The $53.4 billion pension fund committed €200 million ($240 million) to ICG Europe Fund VII SCSp, a mezzanine fund managed by Intermediate Capital Group, $150 million to Arbour Lane Credit Opportunity Fund III, a special situations hedge fund managed by Arbour Lane Capital Management; and $100 million to Carlyle Realty Partners IX, an opportunistic real estate fund managed by The Carlyle Group.
As of Dec. 31, the pension fund's actual allocations to real estate and strategic lending were 8.6% and 7.3%, respectively.
