Connecticut Retirement Plans & Trust Funds, Hartford, committed $100 million to Lion Industrial Trust, a $4.8 billion open-end industrial real estate fund managed by Clarion Partners, said Denise Nappier, state treasurer and principal fiduciary for the $28.5 billion state pension system, in an e-mail.
The commitment was announced at a meeting Wednesday of the investment advisory council.
Also at the IAC meeting, Ms. Nappier hired First Quadrant and Pareto Investment Management for a currency overlay allocation in the pension system's developed markets international stock portfolio. Pareto has already been serving as a currency overlay manager for international equity. The hires are contingent on successful contract negotiations.
The RFP was issued in July. Mesirow Financial was the other finalist.
Ms. Nappier's office also presented a real estate fund investment opportunity in Starwood Global Opportunity Fund X, real estate fund managed by Starwood Capital Group Global targeting between $4 billion and $5 billion. Ms. Nappier is considering investing up to $100 million in the fund, which will largely focus on opportunistic investing in global real estate. The treasurer's office said in an e-mailed statement that there is “no set timetable” for a decision on the Starwood fund.
