Connecticut Pension Fund Commits $650M Across Private Markets

Connecticut’s Retirement Plans and Trust Funds (CRPTF) approved up to $650 million in new commitments across its private equity and real estate portfolios, the state pension system announced following its latest investment meeting. 

Roughly $600 million of that total will go to private equity. CRPTF committed $200 million to Bregal Sagemount V-B, a newly closed fund pursuing growth buyouts and structured minority deals across software, fintech, healthcare IT, digital infrastructure, and business services. 

Another $200 million will back HarbourVest Partners’ Dover Street XII, a secondaries fund targeting $20 billion in commitments. CRPTF also earmarked $200 million for Secondary Overflow Fund VI, which co-invests alongside Dover Street XII in larger or more concentrated secondary opportunities. 

The pension fund made one new allocation in real estate: $50 million to Artemis Real Estate Partners Healthcare Fund III, bringing its total investment in that strategy to $200 million. The Artemis vehicle targets healthcare-related real estate and recently added a $300 million commitment from the New York State Common Retirement Fund. 

Trustees also reviewed potential new allocations across private equity, private credit, and infrastructure, including funds managed by Levine Leichtman Capital Partners, Inflexion, J.F. Lehman & Co., Hamilton Lane, Stockbridge, and AxInfra.