Connecticut Retirement Plans & Trust Funds, Hartford, established the Connecticut Horizon Fund for emerging minority-owned and women-owned managers based in the state, Denise L. Nappier, Connecticut treasurer, said in a news release. The $20 billion system plans to eventually put 2.5% to 5% of total assets into the new fund — which will cover all asset classes — "to enhance portfolio returns through innovations, while nurturing the next generation of investment ideas," according to the release.
Further information on initial manager searches was not available, but the system will consider proposals from firms with assets of less than $2 billion, according to the release.
"Establishment of this fund will provide the state with opportunities to do business with investment managers with solid track records that have the capacity and capability to add value to the pension fund," Ms. Nappier said in the news release. "This is especially important for smaller Connecticut-based firms whose growth can have a direct impact on the Connecticut economy."