Metro Government of Nashville Allocates $75M to Alts

At the March 20 board meeting, the Metropolitan Government of Nashville & Davidson County (Metro) approved the commitment of $75 million to alternative investment strategies including private equity, private credit, and real estate. 

$10 million was allocated to Accel Growth VII, a private equity growth strategy. This allocation marks Metro’s fifth investment in the Accel Growth series of funds. 

In addition, a $10 million allocation to RedPoint Omega V, an early stage venture capital investment strategy. Omega is a series focused on growth investments and is managed byRedPoint, a multi-stage venture firm. This investment marks Metro’s second commitment to the RedPoint Omega series. 

In private credit, a $25 million allocation was approved to Hygieia One Credit Fund. Managed by MC Capital Partners, Hygieia One Credit Fund is Metro’s SMA, focused on middle market lending. In 2020, Metro invested $100 million in the fund. 

Lastly, a $30 million commitment was approved for Michelson Multifamily Fund II, a core real estate strategy. Michelson Multifamily Fund II will invest primarily in multifamily housing in the southeast region of the US. This investment is the second commitment Metro has made to the fund. 

As of December 31, 2023, Metro was valued at $4.2 billion in assets.

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