Connecticut Retirement Plans agrees $100m commitment

The US public pension has backed Ares' US real estate debt fund.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, United States
AUM: $34.93bn
Allocation to alternatives: 21.4%
Bitesize: $50-100m

Connecticut Retirement Plans and Trust Funds approved a $100 million commitment to Ares Management’s open-ended Real Estate Enhanced Income Fund at its December 2019 investment advisory committee meeting, a contact at the pension informed PERE.

The $34.93 billion US public pension has a 7.0 percent target allocation to real estate that currently stands at 6.20 percent.

As illustrated below, Connecticut has made four commitments to real estate funds with a 2018 or 2019 vintage, which combined constitute $375 million.

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