Pugh Capital Management has "graduated" from the Connecticut Horizon Fund into the state's $2 billion Core Fixed Income Fund, confirmed Denise L. Nappier, state treasurer and principal fiduciary of the $34 billion Connecticut Retirement Plans & Trust Funds, Hartford, in an e-mail.
The Connecticut Horizon Fund provides opportunities for Connecticut-based and emerging investment management firms as well as investment firms owned by women and minorities.
Connecticut initially allocated $25 million to Pugh in 2005. The investment manager had $894 million in assets under management at the time. It had $5.8 billion in AUM as of Dec. 31.
Now that Pugh has moved over to the CFIF, it will be allocated more, but the amount has not yet been determined, Ms. Nappier said.