Connecticut Pension Deploys $1.17B Across Private Markets, Mulls Asset Allocation Revisions
The Connecticut Retirement Plans and Trust Funds (CRPTF) approved $1.17 billion in fresh capital commitments at its July meeting, continuing an aggressive expansion into private market strategies following $1.7 billion in allocations deployed in May.
The $69 billion pension fund split the primary commitments across private equity and real estate vehicles, while simultaneously evaluating new credit and infrastructure pipelines.
Within private equity, where CRPTF holds a 12% allocation against a 15% long-term target, officials cleared two investments with existing managers. The pension committed €150 million ($171 million) to Oslo-based Verdane Edda IV, focusing on Northern European digitalization themes, alongside $300 million to Welsh, Carson, Anderson & Stowe’s WCAS XV, a North American middle-market buyout fund. Additionally, a $300 million upsize was directed to the Sixth Street TAO Partners cross-platform strategy, with assistance from consultant Hamilton Lane.
In real estate, trustees deployed $400 million, split between a $150 million core-plus allocation to Clarion Partners’ open-end Lion Industrial Trust and a $250 million opportunistic commitment to the closed-end Artemis Real Estate Partners Fund V. Aided by consultant Albourne, these moves align with a proposed asset mix adjustment that would lower the pension’s real estate target exposure to 8% from 10%.
Similar structural tweaks are under review for private credit. While CRPTF’s 2026 pacing plan outlines $2.5 billion in new commitments, officials are considering lowering the long-term credit allocation target to 9% from 10%. The asset class currently represents 5.8% of total assets. To further fulfill this pipeline, the council is vetting prospective allocations to IFM Investors’ Global Value-Add Infrastructure Fund and Fortress Investment Management’s Fortress Lending Fund V.
