Connecticut Retirement Plans & Trust Funds, Hartford, disclosed five pension fund commitments totaling $725 million across its real assets, private credit, and private investment portfolios.
Erick Russell, state treasurer and principal fiduciary of the $47.8 billion state pension system, announced the commitments on Wednesday at a meeting of Connecticut's Investment Advisory Council, said a news release.
These investments included $150 million to Grain Communications Opportunity Fund IV, an infrastructure opportunistic fund managed by Grain Management, in the state's real assets portfolio; and $150 million to Hg Titan 2, a buyout fund managed by Hg Capital (U.K.), in the state's private credit portfolio.
There were also three commitments in the state's private investment portfolio: $75 million to Hg CT1 Co-Investment; $175 million to Dover Street XI, a secondaries fund managed by HarbourVest Partners; and $175 million to Secondary Overflow Fund V, another secondaries fund managed by HarbourVest.
A spokeswoman for the Office of the State Treasurer said by email that Hg CT1 is "an existing, customized vehicle that provides the CRPTF the opportunity to co-invest in certain Hg portfolio companies, on a no fee and no carry basis." The vehicle is managed by Hg Capital, she added.
CRPTF previously committed $75 million to Grain Communications Opportunity Fund III in February 2021; $75 million to Hg Titan 1 in May 2021; $100 million to Dover Street X in January 2020; and $50 million with Secondary Overflow Fund IV in January 2020.