TN private-equity play

TCRS, the state's consolidated retirement system, made a total $40MM allocation of assets to Bain and Canaan funds. Details here.

TCRS PE commitments

Tennessee Consolidated Retirement System (TCRS) recently made private-equity asset commitments of $25MM and $50MM to General Catalyst and Denham, respectively.

$75MM to PE by TN retirement system

Tennessee Consolidated Retirement Systems (TCRS) announced two more commitments to private-equity funds, and the mindsets of those to whom the money is to be entrusted are reflected on their websites, making interesting reading for entrepreneurs and investors, alike. Read about it here. Some in-state VCs, including some that are participating in TNInvestco-certified funds, have expressed interest over the years in TCRS making some commitments earmarked for instate funds.

TCRS-Bessemer Ventures

The Tennessee Consolidated Retirement System's (TCRS) latest private-equity asset commitment puts $25MM on the table for Bessemer Venture Partners to manage. The announcement advances the 18-month-old program, and comes shortly after word of a legislative initiative that could have influenced TCRS investments. Read about it here.

TCRS commits $50MM to LA private-equity fund

Tennessee Consolidate Retirement System today announced it has committed $50MM to Oaktree PPIP Private Fund, bringing total private-equity allocations to $225MM, under the State's year-old alternative investments initiative. The VNC story is here.

TCRS taps Draper Fisher Jurvetson

TCRS Private Equity Director Lamar Villere is doing business with some VC luminaries. The latest: A $25MM investment commitment from the state's pension fund to Draper Fisher Jurvetson, Menlo Park. Read about it here.

State pension fund recovers some

State Treasurer David Lillard told a Kingsport audience the Tennessee Consolidated Retirement System pension fund has recovered from a Recession low of $23Bn to about $29Bn. Prior to the Recession's precipitous drop, the fund had reached about $33Bn. The Times News reports.

Khosla fund hits $1B

The new clean-tech funds of California-based Vinod Khosla have recruited about $1 billion, according to the Mercury News. As recently reported by VNC, Khosla's fund was among those that recently won key roles in the management of TCRS's first private-equity investments.

Metro CIO looks at distressed assets

Metro Nashville Chief Investment Officer Fadi Bousrama is looking more closely at distressed debt offerings, hedge funds and more. The story's here.

TCRS private-equity: $150MM flows

The Tennessee Consolidated Retirement System's new private-equity director, Lamar Villere, tells VNC that three major fund-management firms have been retained, with commitments up to $150MM. The VNC story is here.

State private-equity guidelines released

Lamar Villere (left), director of private-equity investing for the State's pension system (TCRS), yesterday provided us TCRS guidelines for PE efforts. Based on the scope of the director's job outlined in this document, maybe they'd better invest in biotech, to clone Villere. After all, we're talking about stewardship of at least $800MM. Read about it here.

Villere to lead TCRS private equity moves

Lamar Villere, at left, the new director of private-equity investing at Tennessee Consolidated Retirement System, will have many new friends. Tennessee's indigenous private-equity and VC players are concerned they'll be left out of allocations of about $800MM. Our story's here.

Tennessee alternative investments

We checked this week, and there's still no hire to report for director of private-equity or alternative investments at Tennessee Consolidated Retirement System, within the Treasurer's office, which will now be occupied by David Lillard, who succeeds Dale Sims, following the General Assembly's constitutionally mandated vote.

Capital ideas: Tennessee VC infrastructure

There are a number of new venture-capital and related initiatives afoot that deserve close attention: Obviously, the State pension plan's first-year authority to allocate something north of $750MM to private-equity investments is stunning. And, as we reported Friday, the strong capital-formation task force created by Tennessee Technology Development Corporation represents a real 'gathering of eagles'. There are other actors: In that same story yesterday, TTDC President Eric Cromwell indicated he's exploring an expanded role for Nashville Capital Network, an angel group that also has a sidecar investment fund. And, Nashville Technology Council's Tod Fetherling's public appearances make clear he hasn't lost any of his entrepreneurial spirit, in moving from ConnectivHealth to NTC.