Connecticut Retirement Plans & Trust Funds, Hartford, is searching for high-yield debt managers.
The $29.4 billion retirement system is looking for managers for its $1.6 billion high-yield portfolio, which currently has four managers — Loomis Sayles & Co., Oaktree Capital Management, Shenkman Capital, Stone Harbor Investment Partners. The contracts for all but Loomis Sayles are set to expire in November. The three managers may rebid, said David Barrett, spokesman for Denise Nappier, state treasurer and principal fiduciary for the retirement system.
An RFP will be available Feb. 20 on the treasurer’s office website. Proposals are due March 13; a decision is expected by August.
Separately, Ms. Nappier presented two real estate fund opportunities for the Investment Advisory Council to review, Mr. Barrett said.
At the council’s Wednesday meeting, Ms. Nappier said she is considering an investment of up to $100 million in Blackstone Real Estate Partners VIII, managed by Blackstone Group, which is targeting large real estate deals globally, with a growing focus on the U.S. gateway markets and distressed markets in Europe.
Ms. Nappier also is considering an investment of up to $40 million to Landmark Real Estate Partners VII, managed by Landmark Partners, an opportunistic real estate secondary fund.
Ms. Nappier will make a final decision on the investments after the IAC provides feedback.