Connecticut Adds $1B for RE, PE and Credit

The Connecticut Retirement Plans and Trust Funds (CRPTF) increased its private market commitments by more than $1 billion during this month’s Investment Advisory Council meeting.

In real estate, the $56 billion CRPTF committed $200 million to Artemis Real Estate Partners Income & Growth Fund II and $184 million to Sterling Value Add Partners IV. The Artemis Real Estate Partners fund seeks to invest up to $1 billion in core-plus assets, with an emphasis on U.S. middle-market opportunities ($10 million to $30 million per transaction) in top MSAs and across property types. Sterling Organization’s strategy aims to raise $500 million focused on retail properties.

CRPTF has committed up to $200 million to Clearlake Capital Group’s Clearlake Capital Partners VIII, $150 million to Stellex Capital Management’s Stellex Capital Partners III, and an additional $50 million to the Stellex Capital Partners III co-investment.

Three private equity funds were also presented for consideration, including Insight Partners’ Insight Partners Opportunities Fund II (with a potential $100 million commitment), Insight Partners Opportunities Fund II Co-Investment ($150 million), and Hollyport Capital’s Hollyport Secondary Opportunities IX ($200 million).

Within credit, a $300 million commitment was made to Oaktree Capital Management’s Oaktree Opportunities Fund XII, a special situations strategy. The fund plans to raise $18 billion with a focus on opportunistic and distressed debt.

Hamilton Lane assisted with the investment allocations.