Tennessee Commits $300M to Private Credit, Real Estate Funds

Tags: Pension Funds, Real Estate, Private Credit, New Investment

The Tennessee Consolidated Retirement System (TCRS) approved a total of $300M in commitments split between a special situations private credit strategy and a real estate credit fund, per recently published minutes from its investment committee meeting on October 3.

The state pension allocated $150M each to Arbour Lane Credit Opportunity Fund IV and Berkshire Multifamily Credit Fund IV. Dakota figures show that TCRS has previously allocated capital to past funds of both managers in 2021: $150M to Arbour Lane’s Fund III and $250M to Berkshire’s Bridge Loan Investors II.

The Tennessee pension currently holds approximately $70B in plan assets, according to Dakota data.