Connecticut commits $775m to buyouts and debt funds

The US public pension made $775m in commitments.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $42.8 billion
Allocation to private equity: 11.6%

Connecticut Retirement Plans and Trust Funds confirmed $775 million in commitments across three private debt vehicles at its November investment advisory council meeting.

The $775 million commitments comprised $150 million Paine Schwartz Partners Food Chain Fund VI, $125 million to Bregal Sagemount Fund IV and $100 million to both Vistria Structured Credit Fund I and Centre Lane Credit Partners III.

A further $300 million of commitments was made to SLR Capital Partners in the form of a partnership agreement. The $300 million vehicle, SLR Capital-CRPTF Credit Partnership, will be invested into senior credit opportunities.

Connecticut has a 11.6 percent allocation to private credit valued as of September 2022, and its private debt portfolio is valued at almost $5 billion. As illustrated below, the $42.8 billion US pension’s recent private equity commitments have primarily focused on North American vehicles with buyout or debt strategies.

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