Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $43.08 billion
Allocation to alternatives: 20.2%
Connecticut Retirement Plans and Trust Funds confirmed $255 million-worth of commitments to a pair of real estate funds at its June 2021 investment advisory committee meeting, a contact at the pension informed PERE.
The commitments comprised $180 million to Carlyle Realty Partners IX and $75 million to Covenant Apartment Fund X. Carlyle‘s ninth opportunistic diversified property vehicle is in market seeking $6 billion from investors while Covenant‘s tenth value-add residential fund is aiming to raise $400 million in equity capital.
Connecticut’s real assets portfolio comprises 11.4 percent of its full investment portfolio, out of which the pension invests in real estate, infrastructure and agriculture.
The $43.08 billion public pension’s recent real estate commitments have predominantly focused on North American funds targeting value-add or opportunistic returns.
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