TCRS approves $40m commitment

The US public pension has re-upped with Foundation Capital.

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Institution: Tennessee Consolidated Retirement System
Headquarters: Nashville, United States
AUM: $60.63 billion
Allocation to alternatives: 17.1%

Tennessee Consolidated Retirement System has approved a $40 million commitment to Foundation Capital X at its June 2021 investment committee meeting, a contact at the pension informed Infrastructure Investor.

The US public pension has previously committed $50 million to the fund’s predecessor, Foundation Capital IX which held a final close at $350 million in September 2019, achieving its target.

As illustrated below, the pension’s recent commitment has been to funds focused on North America investments in the energy, mining and renewables sectors.

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