Tennessee Consolidated commits $200m to Carlyle Property Investors

Tennessee Consolidated Retirement System (TCRS) has committed $200 million to Carlyle Property Investors, an open-end, core-plus real estate fund managed by Carlyle Group, a spokesperson for the pension fund confirmed in an email.

Shelli King, communications director for the Tennessee Dept. of Treasury, said this new commitment builds on an existing relationship with Carlyle Group.

The Carlyle Property Investors fund invests in multifamily and senior housing across the United States using a core-plus strategy. The vehicle has a geographic distribution that will deploy 30 percent of capital in the eastern part of the country, 20 percent in the South, 20 percent in the Midwest and 30 percent in the West. It was launched in 2015.

A series of U.S. pension funds have invested in the fund, including Connecticut Retirement Plans and Trust Funds, the State Universities Retirement System of Illinois, the Florida State Board of Administration, the Indiana Public Retiremen