Connecticut Retirement Plans & Trust Funds, Hartford, agreed to commit a total of up to $150 million to a Carlyle Group high-yield debt fund, confirmed Denise Nappier, the state treasurer and principal fiduciary for the $27.1 billion state pension system, in an e-mail.
The fund invests in high-yield debt that offers exposure to senior, floating-rate loans in an effort to mitigate the adverse impact of rising interest rates during the expected five-year investment term.
The commitment is pending successful contract negotiations.
Ms. Nappier announced the commitment Wednesday at a meeting of the investment advisory council, which advises the treasurer on investment policies.
