Tennessee Consolidated Retirement System (TCRS) has committed $100 million to the Principal Data Growth & Income Fund. This commitment was approved on Dec. 6, 2024, according to a spokesperson for TCRS.
Principal Data Center Growth & Income Fund, a vehicle of Principal Asset Management, is an opportunistic closed-end fund. It will invest in existing data center assets to build a nationwide portfolio in the United States. It has a fundraising goal of $3 billion.
TCRS is a public pension fund that provides state employees with retirement, death and disability benefits. As of June 30, 2024, it had $70.2 billion in total assets under management, with a 10 percent real estate allocation target. As of June 30, it had $7.1 billion in total real estate assets.
