Connecticut Retirement Plans & Trust Funds, Hartford, made four new commitments and one follow-on commitment to investment funds totaling $450 million.
At the state's investment advisory council meeting Wednesday, state Treasurer Shawn T. Wooden announced his decision to commit $150 million to ISQ Global Infrastructure Fund III, an infrastructure fund managed by I Squared Capital; $100 million each to IPI Partners II, an infrastructure fund investing in data centers, and Clearlake Capital Group's Clearlake Flagship Plus Partners, a special situations fund; and $50 million to TruAmerica Workforce Housing Fund, a real estate fund managed by TruAmerica Multifamily.
Mr. Wooden, principal fiduciary of the $37 billion CRPTF, also announced a follow-on commitment of $50 million to Secondary Overflow Fund IV, managed by HarbourVest Partners. The council committed $50 million to the fund in January.
Mr. Wooden also announced his decision to select Hamilton Lane Advisors as the funds' private capital investment consultant. An RFP for private capital consulting services was issued in June because the CRPTF's contract with its private equity consultant, StepStone Group, was set to expire, said Michelle Woods-Matthews, a spokeswoman for Mr. Wooden. Also, Meketa Investment Group had been providing private credit consulting services to the state system under a short-term contract. So, Mr. Wooden's office decided to consolidate its private equity and private credit consulting services into one contract, Ms. Woods-Matthews said.
Aksia and StepStone were the other finalists considered.
In addition, Mr. Wooden told the council that he is considering two investment opportunities: a commitment of $125 million to K5 Private Investors, a middle-market buyout fund managed by K1 Investment Management; and a £100 million ($134 million) commitment to Livingbridge 7, a middle-market buyout fund. A date for a decision on the commitments could not be learned.