This allocator's name, 5 more people and 2 more advisers

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State retirement system in Tennessee

State retirement systemPart of a larger system· Tennessee

State retirement system, based in Tennessee, reporting $38B in assets, for 437,631 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$38B
Private allocation
20.0%
Open searchesAllocation policyConsultants
More
People
As of · the latest dated event for this allocator; each figure carries its own filing or report date

Nothing material in the last 90 days. Last change: 30 Jun 2024, Total assets changed.

Capital path

who backs this record, through what, into what; each name opens its own path
Who decides
All 8
State retirement system in Tennessee
Size, funding, policy and commitments, with their basesState retirement systemShow
State retirement system
Assets
$38B
Total assets, Jun 30, 2024 derived
Funded
not on record
not filed
Private markets target
20.0%
policy Jun 30, 2025
Commitments
0
none on the tape
Invested by: Tennessee Consolidated Retirement System
Allocation policy
ACFR, as of Jun 30, 2025
Asset class (as printed)BucketTargetRangeActualGapBasis
Cash and Cash EquivalentsCash1.0%reported treasury.tn.gov
Core Fixed Income SecuritiesFixed income20.0%reported treasury.tn.gov
Private Equity - Strategic LendingPrivate equity10.0%reported treasury.tn.gov
Private Equity - TraditionalPrivate equity10.0%reported treasury.tn.gov
Equity - CanadianPublic equity2.0%reported treasury.tn.gov
Equity - Emerging MarketsPublic equity4.0%reported treasury.tn.gov
Equity - International Developed MarketsPublic equity12.0%reported treasury.tn.gov
Equity - United StatesPublic equity31.0%reported treasury.tn.gov
Actual allocation lines without a target (as filed)
  • Short-Term Securities 4.2%
  • Domestic Fixed Income 22.6%
  • International Fixed Income 0.0%
  • Domestic Equity 28.0%
  • International Equity 14.0%
  • International Private Equities & Strategic Lending 2.0%
  • Private Equities & Strategic Lending 20.2%
  • Real Estate 9.0%
Consultants and advisers
5 firms

+2 more consultants and advisers advise this allocator

Every name, record and relationship behind this count, with the source on each.

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People
8 roles
Chief investment officer
Michael Brakebill
Chief Investment Officer (Jun 30, 2025) treasury.tn.gov
Michael Brakebill Chief Investment Officer

+5 more people on the investment staff and board

Every name, title and published role at this allocator, with the page it was read from.

Includes 3 days of DFX Intelligence. Then $249/month unless canceled.

Manager roster
No manager relationship is on the tape for this allocator.
What changed
2 events
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Commitments
No fund commitments are on the tape for this allocator. The tape holds the plans that publish their own private-markets reports; a plan that publishes one and is not here is a gap we can close.
Size and funding
39 readings
Total assets
$38B Jun 30, 2024 derived Census ASPP
$34B (2023-06) · $32B (2022-06)
Long-term investments
$38B Jun 30, 2024 reported Census ASPP
$34B (2023-06) · $32B (2022-06)
Participants
437,631 Jun 30, 2024 derived Census ASPP
438,534 (2023-06) · 418,438 (2022-06)
Active members
154,374 Jun 30, 2024 derived Census ASPP
148,050 (2023-06) · 142,746 (2022-06)
Beneficiaries
128,883 Jun 30, 2024 reported Census ASPP
123,344 (2023-06) · 120,438 (2022-06)
Benefits paid
$1.8B Jun 30, 2024 reported Census ASPP
$1.7B (2023-06) · $1.6B (2022-06)
Investment expense
$35.0M Jun 30, 2024 reported Census ASPP
$33.0M (2023-06) · $35.3M (2022-06)
Provenance
Identifiers: none on file
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 23, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

Not yet on record: funded ratio, fund commitments.

Record history

2 dated events on the change ledger, latest first
  • Total assets changed
    2023-06-30source
  • Total assets changed
    2024-06-30source

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

›Connections

every published relationship on the graph

+6 connections on the graph

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