CRPTF approves $50m commitment

The Connecticut public pension has backed Rubicon Point Partners' inaugural real estate fund.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $41.07 billion
Allocation to alternatives: 19.2%

Connecticut Retirement Plans and Trust Funds has announced a $50 million commitment to Rubicon First Ascent, a contact at the pension fund informed PERE. 

Rubicon Point Partners is currently in market with its debut vehicle, and is seeking to raise $250 million of LP capital to target office space and mixed-use properties across San Francisco Bay and the Pacific Northwest area.

CRPTF currently allocates 11 percent of its investment portfolio to real assets.

As illustrated below, the $41.07 billion US public pension’s recent real estate fund commitments have predominantly targeted North American vehicles pursuing value-add returns.

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