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Connecticut confirms $125m commitment

The US public pension has backed Basis Investment Group's second US-focused real estate debt vehicle.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $43.70 billion
Allocation to alternatives: 20.5%

Connecticut Retirement Plans and Trust Funds confirmed a commitment of $125 million to BIG Real Estate Fund II at its July 2021 board meeting, a contact at the pension informed PERE.

Basis Investment Group launched its sophomore fund in March 2021 targeting $550 million in investor capital. As of July 2021, it had raised $400 million of its target via a first close. It’s predecessor, BIG’s debut real estate debt vehicle, held a final close in May 2019 at $410 million.

The $43.7 billion US public pension has a 10 percent target allocation to real estate that currently stands at 6.6 percent.

As illustrated below, CRPTF’s recent real estate commitments have primarily focused on diversified North American vehicles with either value-add or debt strategies.

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