Connecticut approves $150m commitment

The US public pension has backed Carlyle's 2017-vintage evergreen property fund.

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Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, United States
AUM: $37.63bn
Allocation to alternatives: 21.4%
Bitesize: $50-100m

Connecticut Retirement Plans and Trust Funds confirmed a $150 million commitment to Carlyle Property Investors fund at its February 2020 investment advisory committee meeting, a contact at the pension informed PERE. The open-ended vehicle is focused specifically on core-plus US property investments.

The $37.63 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 6.20 percent.

As illustrated below, Connecticut has a firm appetite for investing in open-ended real estate funds, having committed to three such vehicles since August 2019.

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