Connecticut approves $150m in commitments

The US public pension has backed a pair of US real estate funds.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $41.80 billion
Allocation to alternatives: 19.9%

Connecticut Retirement Plans and Trust Funds confirmed $150 million-worth of commitments to two real estate funds at its May 2021 investment advisory council meeting, a contact at the pension informed PERE.

The commitments comprised $100 million to Mesirow Financial Real Estate Value Fund IV and $50 million to Penzance DC Real Estate Fund II. Both vehicles are focused on value-add property investments in North America.

As illustrated below, Connecticut’s recent real estate commitments have predominantly targeted either residential-specific funds or funds focused on building a diversified property portfolio.

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