Tennessee Consolidated Retirement System, Nashville, made two new commitments totaling about $85 million, said Shelli King, spokeswoman for David H. Lillard Jr., state treasurer, who oversees the pension fund, in an e-mail to Pensions & Investments.
The $42.3 billion pension fund committed up to €50 million ($55 million) to ICG Europe Fund VI, a European focused middle-market fund managed by Intermediate Capital Group. It is the pension fund's first commitment to an ICG fund.
The pension fund also committed $30 million to OrbiMed Royalty Opportunities Fund II, managed by OrbiMed Advisors. The fund buys royalty rights to inventions, providing upfront capital for research.
The pension fund committed $20 million in 2013 to venture capital fund OrbiMed Private Investments V.