Connecticut Retirement Plans & Trust Funds, Hartford, agreed to commit $375 million to three alternatives funds, said a news release issued by the office of Shawn T. Wooden, state treasurer and principal fiduciary of the $36 billion pension fund.
At the investment advisory council's meeting Thursday, Mr. Wooden announced a commitment of up to $200 million to IFM Global Infrastructure Fund, managed by IFM Investors; $100 million to JFL Equity Investors V, a middle-market buyout fund managed by J.F. Lehman & Co.; and $75 million to Georgian Partners Growth Fund V, which makes late-stage venture capital and growth equity investments in high-growth software companies in North America.
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%.