An embodiment of an electronic apparatus may include one or more substrates, and logic coupled to the one or more substrates, the logic to provide an interface to a pooled memory that is configured as a combination of local memory and remote memory, wherein the remote memory is shared between multiple compute nodes, allocate respective memory portions of the pooled memory to respective tenants, associate respective memory balloons with the respective tenants that correspond to the allocated respective memory portions, and manage the respective memory balloons based on the respective tenants and two or more memory tiers associated with the pooled memory. Other embodiments are disclosed and claimed.