Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $43.7 billion
Allocation to alternatives: 20.5%
Connecticut Retirement Plans and Trust Funds confirmed $327 million-worth of commitments to private equity funds at its July 2021 investment advisory council meeting, a contact at the pension informed Private Equity International.
The commitments comprised €150 million to ICG Europe Fund VIII and $150 million to Strategic Value Special Situations Fund V. ICG‘s eighth series European mezzanine vehicle is in market targeting €7 billion from investors. SVP‘s fifth special situations vehicle has raised $4.4 billion across a number of interim closes, surpassing its initial $4 billion equity capital target.
Connecticut has a 10 percent target allocation to private equity which stood at 8.5 percent as of 31 May 2021. The pension’s private equity portfolio has a market value of over $3.7 billion.
As illustrated below, the $43.7 billion US pension’s recent private equity commitments have predominantly targeted buyout and mezzanine funds focused on North America and Europe.
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