Connecticut earmarks $150 million for 2 funds, eyes $175 million for 2 others

Connecticut Retirement Plans & Trust Funds, Hartford, committed up to $150 million to buyout and real estate funds and is considering commitments of up to $175 million to venture capital and real estate funds, said Deputy state Treasurer Lawrence A. Wilson on behalf of Denise L. Nappier, state treasurer and principal fiduciary of the $34 billion pension fund.

At the investment advisory council meeting Wednesday, Mr. Wilson announced a commitment of up to $100 million to Vista Equity Partners Fund VII, a buyout fund focused on software, data and technology companies managed by Vista Equity Partners Management; and a commitment of up to $50 million to Covenant Apartment Fund IX, a U.S. multifamily real estate fund managed by Covenant Capital Group.

The commitments are contingent upon successful negotiation of the partnership documents.

In addition, Mr. Wilson announced that Ms. Nappier is considering committing up to $100 million to Constitution Fund V, a venture capital fund managed by Fairview Capital Partners that would invest in early stage, high-potential companies in Connecticut. The commitment would be broken down into two tranches: up to $75 million for investments in underlying venture capital and growth-stage funds, and up to $25 million for co-investments in late- and growth-stage companies in Connecticut.

Finally, Ms. Nappier is also considering committing up to $75 million to Gerding Edlen Green Cities IV, a real estate fund managed by Gerding Edlen Development that focuses on value-added and opportunistic investments in apartment and office properties in the U.S.