Monday, August 25, 2008
Tennessee pension joins the private-equity players
It was a little awkward. I'd been hearing from many folks that Tennessee was 'missing the boat' by not allowing the Tennessee Consolidated Retirement System to invest more of its $32 billion in assets in potentially higher-growth categories, including private equity. But, when I spoke with state officials they informed me the law'd been changed months ago and plans are underway to start reallocating up to $900 million toward private equity. BTW, they say they'll need a new director-level expert to handle that new chore. Interested? Here's the story.