Tennessee Consolidated Retirement System (TCRS) has approved a $100m (鈧�84.1m) commitment to a US data centre fund managed by .
The pension fund told 91传媒在线 it is for the first time investing in data centre real estate via the commitment to Principal Digital Real Estate Fund, a fund seeking to raise $500m in total.
鈥淭he growing demand for streaming services, social media and other cloud-based technology, along with the increase in work from home idea, provides strong tailwinds to the sector,鈥� TCRS said.
TCRS said the fund, which plans to buy or develop data centres, expects to generate internal rate of returns of 19% to 21%.
declined a request for comment.
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