Connecticut Treasurer Commits $650M to Alternatives

In a press release, the Connecticut Office of the State Treasurer Shawn T. Wooden announced $650 million in alternative investments for the Connecticut Retirement Plans and Trust Funds.  

In private equity, $100 million will be allocated to middle market buyout fund, Reverence Capital Partners Opportunities V. 

In private credit, Fortress Lending Fund III-IV will receive $250 million, and Sixth Street Lending Partners will be allocated $300 million. 

The press release also discussed private markets mandates for the Connecticut Inclusive Investment Initiative (Ci3). Staff is considering a $300 million investment with GCM Grosvenor to invest across private equity and real estate, and a $100 million investment with RockCreek to invest across private credit funds for the Ci3 program. “The Ci3 program affords opportunities to both emerging and diverse managers to compete for investment mandates consistent with the goals of the CRPTF and fiduciary standards” according to meeting materials from the July 20 meeting.

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