Connecticut approves $258m in commitments

The US public pension backed a pair of private equity funds at its first investment committee meeting of 2021.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $39.84 billion
Allocation to alternatives: 19.4%

Connecticut Retirement Plans and Trust Funds confirmed $258 million of private equity commitments to two vehicles at its January investment advisory committee meeting, a contact at the pension informed Private Equity International.

The commitments comprised $125 million to K5 Private Investors, managed by K1 Investment Management, and £100 million ($133 million) to Livingbridge 7, the London-headquartered firm’s latest flagship buyout fund.

Connecticut has a 10 percent target allocation to private equity that currently stands at 7.7 percent.

As illustrated below, the $39.84 billion US public pension’s recent private equity commitments have targeted a variety of vehicles, from Western Europe-focused buyout funds to North America-focused distressed funds.

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