Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $23 billion
Connecticut Retirement Plans and Trust Funds has announced a $300 million commitment to an emerging/diverse fund manager, according to documents from the pension’s September investment meeting.
The pension has allocated $300 million to GCM Grosvenor. GCM will invest into both private equity and real estate opportunities on behalf of the pension over the next three years.
The $300 million in commitments is part of the pension’s wider initiative to invest into more diverse and emerging managers. The program, titled the ‘Connecticut Inclusive Investment Initiative’ (Ci3), was launched in 2020 and led to an increase in the pension’s overall allocation to more minority managers and it spans across all asset classes.
The $23 billion US public pension’s recent private real estate commitments, as illustrated below, have focused on North American vehicles with diversified sector focuses.
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