Connecticut Retirement Plans approves $325m in commitments

The Hartford-based public pension has backed four private equity funds.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, United States
AUM: $34.93bn
Allocation to alternatives: 21.4%
Bitesize: $50-100m

Connecticut Retirement Plans and Trust Funds agreed to commit $325 million to private equity vehicles across its November and December 2019 investment committee meetings, a contact at the pension informed Private Equity International.

The commitments comprise of $100 million to Dover Street X, $50 million to Secondary Overflow Fund IV, $75 million to Georgian Partners Growth Fund V and $100 million to JFL Equity Investors V. The first two funds are managed by HarbourVest Partners, with the latter two being managed by Georgian Partners and J.F. Lehman & Company, respectively.

The $34.93 billion US public pension has a 10.9 percent target allocation to private equity that currently stands at 7.1 percent.

As illustrated below, these commitments mark the start of Connecticut’s relationship with HarbourVest and Georgian Partners. The pension however is a repeat investor to J.F. Lehman’s flagship PE fund series.

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