Searches and Hires

Connecticut commits to mezzanine fund, eyes allocations to buyout and real estate funds

Connecticut Retirement Plans & Trust Funds, Hartford, committed to a mezzanine fund and is considering commitments to a buyout fund and a real estate fund, said Denise L. Nappier, state treasurer and principal fiduciary of the $34 billion pension fund.

At the investment advisory council meeting Wednesday, Ms. Nappier announced a commitment of up to €75 million ($87 million) to ICG Europe Fund VII, a middle-market mezzanine fund managed by Intermediate Capital Group.

The commitment is contingent upon successful negotiation of the partnership documents.

In addition, Ms. Nappier announced she is considering committing up to $100 million to Vista Equity Partners VII, a buyout fund focused on software, data and technology companies managed by Vista Equity Partners Management; and up to $50 million to Covenant Apartment Fund IX, a U.S. multifamily real estate fund managed by Covenant Capital Group.