Asset Owner Directory

Tennessee Consolidated Retirement System

TCRS was established in 1972 with the consolidation of seven separate retirement systems for state employees, public higher education institution employees, public school teachers and employees of political subdivisions electing to participate in TCRS. TCRS is the defined benefit plan component of RetireReadyTN, providing lifetime retirement, survivor and disability benefits.


United States



Performance (%, 1YR)


Chief Executive

Jamie Wayman

Chief Investment Officer

Michael Brakebill


David H. Lillard

Asset allocation
TCRS has a diversified portfolio acoss geographies and assets. The Plan’s adherence to its strategic asset allocation despite market volatility and its long duration bias in fixed income contribute to its strong peer ranking.

31% Domestic Equity

2% Canada Equity

12% International Developed Market

4% Emerging Market Equity

20% Core Fixed Income

10% Private Equity - Traditional

10% Strategic Lending

10% Real Estate

1% Cash and Cash Equivalents related articles
Uncategorised posts

Did they say that? CIO quotes from 2013

Each year interviews CIOs and executive staff of the world’s largest asset owners, gaining insight into their investment strategy, asset allocation and demands from managers. In 2013 funds were focused on costs, increased portfolio look-through, “partnering” with managers and how to position fixed income exposures. This selection of quotes from CIOs of some of […]
Investor Profile

Pulling lots of small levers in Tennessee

Michael Brakebill had never visited Nashville, Tennessee before he interviewed for the role of chief investment officer at the $36.6-billion Tennessee Consolidated Retirement System (TCRS) back in 2008. Landing the job at the defined benefit scheme for Tennessee’s public sector workers, he left his position as head of domestic equity at Texas’ Teachers Retirement System […]
Uncategorised posts

Tennessee plans asset allocation review

The Tennessee Consolidated Retirement System will conduct an asset allocation and portfolio implementation review, with an equities increase and reorganisation of the fixed income portfolio a likely outcome, as it investigates how to increase the returns of the fund at a strategic level.