The Tennessee Consolidated Retirement System (TCRS) has committed $150 million to Welltower Senior Housing Fund I, a vehicle of Welltower.
Welltower Senior Housing Fund I is a closed-end, value-added fund that will focus on acquiring private-pay senior housing facilities offering independent living, assisted living and memory care in the United States. It has a fundraising goal of $2 billion. Earlier this year, Welltower launched its private funds business to manage third-party capital.
TCRS, a public pension fund, had $72 billion in total assets under management, as of Dec. 31, 2024. As of then, it had $7.2 billion in total real estate assets, with a 10 percent real estate allocation target.
