Connecticut Retirement Plans & Trust Funds, Hartford, committed up to $75 million to Clearlake Capital Partners IV, said state Treasurer Denise L. Nappier, principal fiduciary for the $29.6 billion pension fund.
The commitment was announced at the state’s investment advisory council meeting Wednesday. Clearlake Capital Partners IV, managed by Clearlake Capital Group, is a private investment fund that will focus primarily on special situations, distressed and value investments.
The pension fund invested in Clearlake Capital Partners III in 2012.
The investment is contingent upon successful negotiation of the contract terms and partnership documents.
Also at the meeting, Ms. Nappier said she is considering an investment of up to $100 million in Crow Holdings Realty Partners VII, a value-added real estate investment fund managed by Crow Holdings Capital focused on acquiring, renovating, redeveloping or repositioning core and non-core U.S. real estate properties.