Hartford (Conn.) Municipal Employees' Retirement Fund committed a total of $70 million to four funds, according to Gary Draghi, director of investments for the $1 billion pension fund.
The pension fund committed $50 million to a hedge fund-of-one structure with Grosvenor Capital Management. It also committed up to $10 million to Vista Equity Partners Fund V, a technology-focused private equity fund.
In addition, the pension fund made additional commitments to two core open-end real estate funds — $6 million to Cornerstone Patriot Fund, managed by Cornerstone Real Estate Advisers, bringing its total commitment to $18 million; and $4 million to Heitman America Real Estate Trust, bringing its total commitment to $14 million.
The commitments are pending final due diligence and contract negotiations.
