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Connecticut eyes commitment to Ironwood Mezzanine Fund IV

Connecticut Retirement Plans & Trust Funds, Hartford, is considering a commitment to Ironwood Mezzanine Fund IV, a private equity fund managed by Ironwood Capital, said Denise Nappier, state treasurer and principal fiduciary for the $30.1 billion pension fund.

At the investment advisory council’s meeting Wednesday, Ms. Nappier said she is considering committing up to $50 million to the fund, which will primarily focus on mezzanine financing to lower-middle-market companies. Additionally, the fund may engage in opportunistic equity co-investments not to exceed 25% of the fund

The pension fund previously committed to Ironwood Mezzanine Fund III.

Ms. Nappier will make a final decision on the investment after the investment advisory council provides feedback. There is not a time frame for a final decision.