Connecticut Retirement Plans & Trust Funds, Hartford, unveiled $1 billion in new investment commitments to alternative funds on behalf of the state's pension funds.
Erick Russell, state treasurer and principal fiduciary of the $41.7 billion state pension system, announced the commitments Wednesday at his first meeting of Connecticut's Investment Advisory Council, a news release said.
Within the infrastructure and natural resources portfolio, the treasurer's office approved a new $200 million commitment to BlackRock Global Infrastructure Fund IV.
"The BlackRock fund is a new commitment to an existing infrastructure manager," a CRPTF spokesman confirmed in an email.
The BlackRock fund invests in essential infrastructure assets globally, a BlackRock spokesman said.
Within the state's private investment and private credit portfolios, Mr. Russell's office made follow-on commitments of $300 million each to HarbourVest CT Co-Investment Fund and HarbourVest CT Private Debt Fund, both managed by HarbourVest Partners. The former fund focuses on private equity co-investments, and the latter focuses on private credit co-investments. The pension fund previously committed $450 million to each fund in January 2022, the CRPTF spokesman said.
Also within the infrastructure and natural resources portfolio, the treasurer's office approved a follow-on commitment of $200 million to CT Real Assets Co-Investment Fund. The CT fund is managed by Morgan Stanley Investment Management.
The CRPFT spokesman confirmed that the commitments to both HarbourVest and CT co-investment funds "were expansions of existing vehicles."