Real Assets
Sustaining partnerships dedicated to the creation and stewardship of real assets and related essential services.
Program Summary
TMRS’ Real Assets allocation invests in essential assets and related services which, at stabilization, generate predictable yield through long-term contractual cash flows with potential for appreciation via market and business improvements. TMRS targets investments able to provide inflation protection directly (e.g., contractual escalations) or indirectly (e.g., essential service with inelastic pricing) that provide diversification of counterparties, cash flow profile, sector, and geography to the larger portfolio.
Real Assets NAV + Uncommitted
Annual Commitment Budget, +/- $400M
Weighted average partnership duration
TMRS Approach
- Proactive, Commercial Partner: Flexible and commercial partners to support investments where competitive processes require speed of execution
2. Defined and Executable Strategy: Thought partners on thematic development, origination, and mandate parameters so sponsor team can focus on execution.
3. Stable, Future-Oriented Team: Permanent capital to source assets with continuous ownership requirements, and mitigate sub-optimal, liquidity-driven sale requirements.
4. Creative Approach to Partnership: Ability to underwrite first-time and emerging managers, as well as serve as strategic capital in fundless sponsor mandates.
Investment Criteria
Thematic Priorities
Reliable, Affordable Power
Nearshoring Supply Chains
Disaster Response
