CRPTF commits $1.1bn to real estate in 2024

The US public pension plan has set a real estate target of 10% by 2027.

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Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $50.06 billion
Allocation to real estate: 7.5%

Connecticut Retirement Plans and Trust Funds proposed making commitments worth $1.1 billion to real estate in 2024 during its recent investment advisory meeting.

The US pension fund has a current allocation of 7.5 percent to real estate. It is aiming to achieve a strategic allocation target of 10 percent by the end of 2027, to be broken down as 30-50 percent for core and 50-70 percent to non-core investments.

For 2024, CRPTF will focus on making non-core investments due to being below target allocations. To achieve these allocations, the pension fund will add new managers and the potential of existing manager mandates.

CRPTF treasurer Erick Russell also announced a $125 million commitment to Penzance DC Real Estate Fund III, which is a value-add real estate fund focusing on industrial, multi-family, office and other sectors within North America, specifically in the US.

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