Connecticut Retirement Plans & Trust Funds, Hartford, introduced a pacing plan in which the pension fund will target up to $2.9 billion in private equity investments, including $300 million for co-investments, through the end of 2025.
The pacing plan was unveiled at the Jan. 22 board meeting of Connecticut's Investment Advisory Council, which oversees the $59.5 billion pension fund, according to meeting materials.
In 2024, CRPTF set a private equity pacing target of $1.7 billion.
Under the new pacing plan, CRPTF seeks to increase its allocation to private equity to 15% by the end of 2028 from 11% as of Sept 30. To achieve this target, the pension fund set a target of another $2.9 billion in private equity commitments in 2026, followed by $1.9 billion in 2027 and $1.8 billion in 2028.
The pension fund also said that as part of its private equity pacing plan, it will focus on expanding relationships with existing, top-performing managers and selectively add new managers to support portfolio construction, which could include increasing small- and middle-market buyout exposure in in the U.S. and Europe, as well as increasing its growth equity exposure.
