Connecticut Retirement Doles Out $450M to Infra, Real Estate
The Connecticut Retirement Plans and Trust Funds committed $450 million to its infrastructure and real estate portfolio following approval by the Investment Advisory Council.
The retirement fund announced $200 million in total commitments to Axium Infrastructure North America II — Axium Infrastructure Canada II INTL ($50 million) and AxInfra US II ($150 million).
The funds seek to acquire control equity or significant minority (with governance) interests in middle-market, critical infrastructure assets, mainly in the energy/utilities, transportation, and social sectors.
Carlyle Realty Partners’ Carlyle Realty Partners X, which has a $8 billion target size and a “soft cap” of $10 billion, has secured $250 million. The opportunistic closed-end fund invests in demographically and technologically driven sectors, such as residential, self-storage, and industrial.
Furthermore, Oaktree Capital Management’s Oaktree Opportunities Fund XII is being considered in private credit, while Artemis Real Estate Partners Income & Growth Fund II and Sterling Value Add Partners IV have been presented to trustees, who will meet again in July.
The retirement fund’s real assets program is $5.5 billion. The fund returned 9% in the first quarter of 2024, adding to a 29% gain across the $16 billion alternative investment portfolio.
Hear from leaders in real estate capital raising, including Loci Capital managing principal Casey Wilson at the Connect Money: Real Assets Capital Raise event on June 5 in Chicago at the W City Center.
