Connecticut approves $75m commitment

The US public pension has backed Clearlake's second distressed debt fund.

Institution: Connecticut Retirement Plans and Trust Funds
Headquarters: Hartford, United States
AUM: $33.26bn
Allocation to alternatives: 21.80%
Bitesize: $50-100m

Connecticut Retirement Plans and Trust Funds has agreed to commit $75 million to Clearlake Opportunities Partners II, a contact at the pension informed Private Debt Investor. The pension also previously committed $75 million to Clearlake’s 2017 vintage Capital Partners V.

As illustrated in the charts below, Connecticut has made eight commitments to private debt funds since 2017, which combined constitute $552 million. These commitments comprise of three distressed funds, four funds targeting subordinated / mezzanine debt and one fund focused on senior debt financing.

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