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Alternative Assets  + Real Estate  | 
Connecticut Retirement Adds $375M to Alternatives, Real Estate Grows to 8.5%

Connecticut Retirement Adds $375M to Alternatives, Real Estate Grows to 8.5%

The Connecticut Retirement Plans and Trust Funds, which oversees 43 billion in assets, made two notable investments in its private investment and infrastructure and natural resources portfolios at this month’s Investment Advisory Council meeting.

Connecticut State Treasurer Erick Russell announced a $175 million commitment to Vistria Fund V, a small to mid-market buyout fund, and a $200 million allocation to Global Infrastructure Partners V was approved by officials as part of the pension fund’s infrastructure and natural resources program.

The pension fund had shifted away from equities over the past 10 years, which now total 45% of overall assets as private equity has averaged 8.9% of assets over the last decade. But the allocation has been gradually increasing. The real estate allocation was about 5% in 2013 but has grown to 8.5%.

“There’s no doubt that the market remains volatile,” said Treasurer Russell. “It’s important that the CRPTF remain focused on smart, strategic diversification, and we’ll continue to evaluate a broad scope of investment opportunities to continue to meet that goal.”

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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