Connecticut Retirement Plans & Trust Funds, Hartford, has agreed to commit a total of up to $140 million to two real estate funds, said Denise Nappier, state treasurer and principal fiduciary for the $29.4 billion state pension system, in an e-mail.
At a meeting of the investment advisory council on Wednesday, Ms. Nappier announced a decision to commit up to $100 million to Blackstone Real Estate Partners VIII, an opportunistic real estate fund managed by Blackstone Group, and $40 million to Landmark Real Estate Fund VII, an opportunistic real estate secondary fund managed byLandmark Partners.
The retirement system has invested with both managers in the past.
Both commitments are contingent upon successful negotiation of contract terms and partnership documents.
The Townsend Group, real estate investment consultant for the state treasurer's office, assisted.