Connecticut approves $75m commitment

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, US
AUM: $43.08 billion
Allocation to alternatives: 20.2%

Connecticut Retirement Plans and Trust Funds approved a $75 million commitment to Hg Titan at its June 2021 investment advisory committee meeting, a contact at the pension informed Private Debt Investor.

Hg Titan is the firm’s debut private credit offering, marking the traditional software-focused private equity investor’s diversification into a new asset class.

Connecticut has a 5 percent target allocation to private credit that currently stands at 0.7 percent.

As illustrated below, the $43.08 billion US public pension’s recent private debt commitments have predominantly focused on global or North America-focused senior debt vehicles.

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