SEARCHES AND HIRES

Connecticut eyes commitment to Starwood fund, narrows consultant search to 3 finalists

Connecticut Retirement Plans & Trust Funds, Hartford, is considering a commitment to Starwood Global Opportunity Fund XI, a real estate fund managed by Starwood Capital Group, said Denise L. 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 $100 million to the fund, which will primarily focus on investing in the U.S. and Europe through the purchase of real estate with strong potential fundamentals at a significant discount.

The pension fund currently has an aggregate of $250 million in exposure to four previous Starwood funds.

Ms. Nappier also named three finalists for the general investment consultant search. The managers presented were incumbent Aon Hewitt Investment Consulting, Meketa Investment Group and Verus Investments. Five firms responded to an RFP.

No additional information was given on when a final decision for the commitment or the search would be made.