Connecticut Retirement Plans & Trust Funds, Hartford, has agreed to commit $175 million to two alternatives funds, said Shawn T. Wooden, state treasurer and principal fiduciary of the $36 billion pension fund.
At the investment advisory council's meeting Aug. 22, Mr. Wooden announced a commitment of up to $100 million to Oak Street Real Estate Capital Net Lease Property Fund, a core real estate fund; and $75 million to Vistria Fund III, a buyout fund managed by Vistria Group that invests in U.S.-based health care, education and financial services companies.
The fund commitments are subject to successful contract negotiations.
The state's two largest pension funds, the Teachers' Retirement Fund and State Employees' Retirement Fund, generated net investment results of 5.9% for the fiscal year ended June 30, lagging their benchmark of 6.8%. Municipal Employees Retirement Fund, meanwhile, posted a return of 6.2%, below its benchmark of 7%.