Tennessee selects two new investment managers
The Tennessee Consolidated Retirement System has selected L&B Realty Advisors and BlackRock Realty Advisors to be its new real estate investment managers. Blake Fontenay, communications director for the pension fund, has confirmed the selection.
“TCRS is pleased to add both L&B and BlackRock to its five existing real estate managers,” Fontenay comments, “and looks forward to a strong partnership with both managers for the next five years.” The two new managers will join TCRS’ five other managers: Clarion Partners, JP Morgan Asset Management, Deutsche Asset & Wealth Management, Cornerstone Real Estate Advisers and TA Associates.
Both new managers are expected to pursue a core separate account strategy focused on the four main property types on behalf of TCRS. UBS Realty Investors and Capri Capital Partners, the investment managers they have replaced, also pursued