Connecticut Retirement Plans & Trust Funds, Hartford, committed a total of $150 million to two alternatives funds.
Shawn T. Wooden, state treasurer and fiduciary of the $40 billion state pension system, announced at the state's investment advisory council Wednesday his decision to commit $100 million to Mesirow Financial Real Estate Value Fund IV, which targets multifamily investment opportunities in the U.S.; and $50 million to Penzance DC Real Estate Fund II, a fund managed by Penzance Properties focused on assets in the Greater Washington area.
Mr. Wooden told the council that he is considering committing a total of $700 million to six funds.
The possible commitments include: up to $200 million to Carlyle Realty Partners IX, an opportunistic real estate fund managed by Carlyle Group; $150 million to Vistria Fund IV, a middle-market buyout fund managed by Vistria Group that targets the health-care, education and financial services industries; $100 million apiece to Avance Investment Partners, a middle-market buyout fund managed by Avance Investment Management, and Covenant Apartment Fund X, a value-added real estate fund managed by Covenant Capital Group that acquires, renovates and repositions apartment communities in Midwest, Southwestern and mid-Atlantic states; and $75 million apiece to Hg Titan 1, a private credit fund, and Hg-CRPTF Co-Investment, a private equity co-investment fund, both managed by Hg Capital.
The timeframe for making the commitments were not disclosed.