Connecticut agrees $75m commitment

The US public pension has backed Clearlake's sixth distressed PE fund.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, United States
AUM: $37.63bn
Allocation to alternatives: 21.4%
Bitesize: $50-100m

Connecticut Retirement Plans and Trust Funds approved a $75 million commitment to Clearlake Capital Partners VI at its February 2020 investment advisory committee meeting, a contact at the pension informed Private Equity International.

The $37.63 billion US public pension has a 10.0 percent target allocation to private equity that currently stands at 7.10 percent.

As illustrated below, Connecticut has made five commitments to 2019-vintage private equity funds, which combined constitute $375 million.

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