CRPTF commit $400m to real estate

The Hatford-based public pension fund has made two new real estate commitments.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hatford, US
AUM: $55.69 billion
Allocation to private real estate: 6.3%

Connecticut Retirement Plans and Trust Funds made commitments worth $400 million to real estate funds.

The commitments comprise $200 million to Artemis Real Estate Partners Income & Growth Fund II and a further $200 million to Sterling Value Add Partners IV.

The public pension fund also revealed its near-term real estate goals which included reducing its numbers of active fund manager from 35 down to 28 as part of its plan to focus on existing managers through re-up commitments and additional allocations. However, CRPTF still plans to add new managers when new investment themes arrive and if new managers are expected to outperform existing managers.

Connecticut Retirement Plans and Trust Funds continue to maintain its portfolio weighting towards multi-family and residential sectors but plans to increase its exposure to retail and other niche sectors.

The $55.69 billion public pension fund has a current allocation of 6.3 percent to real estate which is well below its target allocation of 15 percent.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments